Dip buying dominates for Eurostoxx
Despite ending a sequence of higher daily lows at the 100-day average, investors have continued to buy the dip; Wednesday’s trading posting a gain of 40 points on the day. The market has closed above the 100-day line which is positive and signals point to a test of the psychological 3000 level and then a falling trend of lower weekly highs.
Management and risk description
Allow room to buy dip and raise stop to entry if the first target is met.
Entry: market and 2940.
Stop: 2927, Tuesday's closing trade.
Target: 2995 and 3018, the weekly bear trend.
Time horizon: today only.
— Edited by Gayle Bryant