Makor - Technical Research – Euro Stoxx Index (3,188) - Sell rallies to 3,280-3,325
2015-09-02 07:11:51.568 GMT
Technical Research – Euro Stoxx Index (3,188)
·The recent damage to the Index has been pretty savvier as the Index is now
trading well below its 55 and 200 day moving averages, broke below the most
important 3,280-3,325 level and below the rising channel marked on the chart
·The first resistance zone is the 3,280-3,325 area, this area combines the
highs from June, Sep & Dec 2014 highs and the July 2015 low. If we get a move
above this level the next resistance level would be 3,350-3,370 where the rising
channel breakdown level is.
·On the downside, Aug 2015 low at 2,973 is support and a move below it would
target the Oct 2014 low at 2,789.
·At the moment we would be better sellers on a rally to 3,280-3,325 and at
3,350-70
Strategy: Step aside for now.
See Full Report Attached
Contributed via: Bloomberg Publisher WEB Service
Provider ID: da7c9300cffb4180b697819136307b2a
-0- Sep/02/2015 07:11 GMT
2015-09-02 07:11:51.568 GMT
Technical Research – Euro Stoxx Index (3,188)
·The recent damage to the Index has been pretty savvier as the Index is now
trading well below its 55 and 200 day moving averages, broke below the most
important 3,280-3,325 level and below the rising channel marked on the chart
·The first resistance zone is the 3,280-3,325 area, this area combines the
highs from June, Sep & Dec 2014 highs and the July 2015 low. If we get a move
above this level the next resistance level would be 3,350-3,370 where the rising
channel breakdown level is.
·On the downside, Aug 2015 low at 2,973 is support and a move below it would
target the Oct 2014 low at 2,789.
·At the moment we would be better sellers on a rally to 3,280-3,325 and at
3,350-70
Strategy: Step aside for now.
See Full Report Attached
Contributed via: Bloomberg Publisher WEB Service
Provider ID: da7c9300cffb4180b697819136307b2a
-0- Sep/02/2015 07:11 GMT