The EUROSTOXX 50 confirmed another strong closing confirming therefore also the positive day reversal it formed on Thursday suggesting higher levels. However only a daily closing above 2368 will confirm a s/t bottom supporting higher levels.
The indicators of the daily chart are now again positive but those of the weekly one are still below the line. The indicators of the s/t ones are positive supporting a possible extension of the correction above 2368 but in the same time we have also a potential negative reversal situation that could limit the upside favouring instead a resumption of the move up.
The decline we are seeing should find support above 2290 form where it could start a new attempt on the upside. We remain therefore long putting however a stop at 2287, just in case.
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/11/EURO-STOXX50-11.14.pdf
FUTURE TREND RESEARCH