New bearish technical picture drawn on DJ Euro Stoxx 50 future daily chart, we suggest to watch today closing.
DJ Euro Stoxx 50 future Tuesday, June 6 close was 3548 (-0,62%). New bearish technical picture drawn on daily chart (high2 > high1, high1 > high, low2 > low1, low1 > low, close2 > close1, close1 > close), we suggest to watch today closing. For intraday trading session DJ Euro Stoxx 50 future technical view is negative and leaves assume the down-trend continuation. However, we can’t exclude rebounds towards the most significant resistance levels. The major oscillators confirm the downward trend.
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Simple Moving Average (SMA)
Strong bearish signal: DJ Euro Stoxx 50 future price crossed below 14-day moving average (SMA value is 3565.50). Today trading session forecast is for further prices dropping towards the most significant support levels. However, the sell signal should be confirmed with increasing volume.
Daily chart shows an increase in volumes compared to the previous day. This could be a sign of a significant move to come.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 06/06/2017.
Performance: 7 trading days= -0.39% – 15 trading days= -0.39% – 30 trading days= +0.77%
Resistance levels: R1= 3565 – R2= 3583 – R3= 3614
Pivot Point: 3552
Support levels: S1= 3534 – S2= 3521 – S3= 3490
Buying opportunity 3569 targets minor resistance at 3596 and perhaps as far as strong resistance at 3627, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 3671.
Selling opportunity below 3540 targets minor support at 3510 and perhaps as far as strong support at 3487, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 3429.