The EUROSTOXX 50 confirmed another weak closing last night causing a sell off this morning that found however good support already at 2108.
The indicators of the daily chart are still well negative as well as those of the s/t ones supporting further weakness.
The sessions started this morning with a gap down 2142 – 2117 that the market is already trying to close. The move up should therefore find resistance at 2140 before the 2160 area. Only an hourly closing above this last level will stabilize the index favouring an extension of the correction with the 200 hours line at 2260 the possible attraction.
We remain on the sideline but still expect a firm rebound!!
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