Euro Stoxx 50 - Daily - Could still capture a bit of the upside
Trade Alert
We could still catch a bit of that uprise, especially if the index moves above its recent highs of 3436.5. The move could open the path towards the 3460 level initially and then maybe testing the long-term downside resistance line, taken from the highest point of January. This is where the price could stall for a while.
On the downside, a break below the 3405 zone, could set the stage for a possible drop down towards the 3350 area, which acted as good support on the 15th of August.
Always have your SL in place.
We could still catch a bit of that uprise, especially if the index moves above its recent highs of 3436.5. The move could open the path towards the 3460 level initially and then maybe testing the long-term downside resistance line, taken from the highest point of January. This is where the price could stall for a while.
On the downside, a break below the 3405 zone, could set the stage for a possible drop down towards the 3350 area, which acted as good support on the 15th of August.
Always have your SL in place.