SEP'16 EUROSTOXX approaches bullish exhaustion
Wednesday’s forecast was bullish and this was confirmed with gains of 39 points.
However, sellers have returned to the market above the psychological 3000 level which is also close to a weekly bear trend for sentiment to deteriorate and close little changed on the day.
A daily Shooting Star has been formed and this is negative for sentiment. Look to sell into rallies
Management and risk description
Sell the rally only and lower stop to entry if the 1st target is met
Entry: Sell at 3009, just below yesterday's high
Stop: 3058, June's top
Target: 2980, just above Tuesday's close and 2903, last week's base
Time horizon: Today only
— Edited by Adam Courtenay
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