The EUROSTOXX 50 formed an outside day with 2414 – 2298 the levels to follow in the coming hours. A daily closing above 2414 will support a rally toward 2509!!
The indicators of the daily chart are still well positive and also those of the s/t ones are slowly returning above the line supporting a possible extension of the move up we’re seeing since the low yesterday at 2308. We have already a positive reversal suggesting a s/t target at 2462!
Only a break below this last level will postpone further strength causing a deeper correction with the 200 hours line at 2241 the possible attraction.
We suggest still waiting for a possible extension of the correction toward the 2250 area to go long.
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FUTURE TREND RESEARCH