The EUROSTOXX 50 confirmed on Friday further consolidation interior the positive outside day with 2377 – 2210 still the levels to follow in the coming hours. A break of the support will cause further weakness probably even toward 2050!!
The indicators of the daily chart are now turning below the line and if the move will be confirmed also on closing this could confirm a negative reversal in the daily chart suggesting a potential m/t target at 1830!!! the indicators of the s/t charts are also negative supporting a retest of the 2210 area. Only an hourly closing below this level will confirm lower levels!!
We remain on the side line following the outside day. We sell a break below 2210!!
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