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EuroSTOXX 50 future base; bull bias for 3063, then key 3088

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EuroSTOXX 50 future base; bull bias for 3063, then key 3088

European benchmark completes a better bottom

·         A resilient inside pattern Friday digestion of the strong rally from mid-month that neutralised bear threats from the larger top through the key 3003/08 area.

·         This caused a shift to a broader range theme, defined as 2962 to 3088, with the focus to the topside into late October.

·         Having already overcome 3025, this leaves the bias this week for 3063 and maybe for a challenge to 3088 with the risk for a bullish breakout/ shift above here into month-end.


·         Upside: Above 3088 aims higher for 3100 and 3125.

·         Downside: Below 2962 sees risk lower for 2946 and 2925/23.

Download full report, levels & screencast here:

4 Hour Euro STOXX 50 December Future Chart





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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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