European benchmark aims lower for 3207, 3200 and 3196-92
- We stated in our last report to our clients that “we do not anticipate a new setback low into this week, but do see risk for a roll back lower from ahead of 3305, to aim for modest rebound supports at 3249 and maybe 3238”.
- The push through all of these supports, now does see risk for a new setback low, with the focus no on support at 3218, ahead of the 3207 low.
- The threat below here would then be to challenge the key retrace at 32000 and the bull gap at 3196-92.
WHAT CHANGES THIS?
- Above 3271 eases bear risks; through 3291 signals a neutral tone, only shifting positive above 3322.
4 Hour Euro STOXX 50 Future Chart
Daily Euro STOXX 50 Future (Adjusted Continuation) Chart