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Looking to buy SEP’16 EUROSTOXX: Lucas

Steve Lucas
Steve Lucas of 3cAnalysis is long SEP’16 EUROSTOXX and looks to buy the dip on the week and on an intraday basis too.

Lucas says that the Brexit selloff has attracted buyers following a new three-year low two weeks ago at 2,645 and that the market has posted five higher lows in a row with no sign that demand is ending.

Steve Lucas' call is to buy small on the open and then at 2,855 with a stop at 2,841. His targets are 2,899, last week’s top, 2,912, the 100 day average rate and 2,935, the 50 day average.

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