The EUROSTOXX 50 is also extending its move up after having formed a new inside day in yesterday’s session. We have now 2357 – 2187 the levels to follow. Only a daily closing above 2357 will support higher levels!!
The indicators of the daily chart are still well positive as well as those of the s/t ones supporting further strength. Bearish divergences in the hourly chart support a positive tone. However, we do still have some overbought conditions and this could limit the upside favouring a correction with the 200 hours line at 2214 the possible attraction.
We will still try a short position in case of a direct 2390 overshooting.
We remain on the sideline.
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