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Technical Forecast for Eurostoxx

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Technical Forecast for Eurostoxx

 


Euro Stoxx Sep13 offered a selling opportunity at this year’s high at 2845/49 with stops on shorts above 2860. We topped at 2853 but today’s outlook remains quite positive so a break above 2853 cannot be ruled out and could target 2883/93. We are drastically overbought so watch for a high for the day here. However be aware that a break higher could target 2919/23.


 


Below 2837 is less positive & could trigger a drift lower to 2824/22. We then have trend line support at 2719/17 so a low for the day is likely in this area. However a break lower could target 2806/02. Just be aware that a close below the trend line would be a short term negative in to the end of the week.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas

 

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