On the 12/01/2016 DJ Eurostoxx 50 future close was at 3061 (+0.99%). The short term view is bearish even if the test of the most significant resistance levels is very likely
On the 12/01/2016 DJ Eurostoxx 50 future close was at 3061 (+0.99%). Technical view is still negative but for intraday trading session many patterns leave assume the up-trend continuation. However, we can’t exclude retracements towards the most significant support levels. The major oscillators confirm the existing downward trend. We suggest to monitore today closing.
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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 3173). The short term view is therefore bearish even if the test of the most significant resistance levels is very likely.
Daily chart shows volume is lower than 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: 12/01/2016.
Performance: 7 trading days= -2.86% – 15 trading days= -7.58% – 30 trading days= -12.44%
Resistance levels: R1= 3101 – R2= 3142 – R3= 3230
Pivot Point: 3054
Support levels: S1= 3013 – S2= 2966 – S3= 2878
DAILY TRADING SIGNALS
Buying opportunity above 3067 targets minor resistance at 3095 and perhaps as far as strong resistance at 3120, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 3161.
Selling opportunity below 3043 targets minor support at 3018 and perhaps as far as strong support at 2999, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 2951.