An unexpected, more significant breakdown Monday through retrace support at 3098 to negate the recovery effort from mid-December and leaves a negative bias to a broader range theme.
Range Parameters: We see the range defined by 2992 and 3175.
Range Breakout Challenge
- Downside: Below 2992 sees risk lower for 2977 and maybe back to the 2913 low.
- Upside: Above 3175 aims higher for 3212 and maybe back to the 3276/82 peaks.
- We see a downside bias for 3001 and 2992; break here aims for 2977, maybe 2957.
- But above 3051 opens risk up to 3106.
Daily EuroSTOXX 50 future
2 Hour EuroSTOXX 50 future
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