The EUROSTOXX 50 confirmed a session of consolidation on Friday forming a new inside day with a support at 2190 that has been broken this morning causing further weakness. The weekly closing was negative.
The indicators of the daily chart are now well negative and also those of the weekly one are below the line supporting further weakness. The indicators of the s/t charts turned negative this morning supporting further weakness.
The drop confirmed already an hourly closing below 2189 supporting a possible extension of the decline toward 2140.
After having got stopped out we prefer remaining on the sideline.
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FUTURE TREND RESEARCH