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.
WHAT CHANGES THIS?
· 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: http://members.marketchartist.com/Daily/eurostoxx.pdf
4 Hour Euro STOXX 50 December Future Chart