A bullish outside pattern to another new cycle high and we restate that "whilst above 3532 we see bullish pressures still intact to leave March upside risks intact".
We see bullish pressures from the February push through a key longer term target at the 61.8% retrace of the entire 2007-09 bear market at 3520, which re-energized the bull theme for March.
Short-term Outlook - Upside Risks:
- For mid-March, we see a positive tone with the bullish threat for Fibo extension levels at 3691 and through 3700 for 3727.
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2 Hour EuroSTOXX 50 Future Chart