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EuroSTOXX 50 Future Risk of a Bearish Shift!

Posted by on in Equity Index Chart Updates
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EuroSTOXX 50 Future Risk of a Bearish Shift!

A bearish outside pattern Tuesday to a new setback low and negate the resilient rebound Monday, to reinforce the broader range theme, but shift the bias for a more bearish shift into early May.

The late April significant plunge below our key level at 3544 leaves a downside bias for Wednesday and maybe for this week.

For Today:

We see a downside bias through 3489 for 3476; break here aims for key 3457.

But above 3529 opens risk up to 3560, maybe 3586.

Short/ Intermediate-term Range Parameters: We see the range defined by 3727 and 3457.

Range Breakout Challenge

Upside: Above 3727 aims higher for 3769 and 3835.

Downside: Below 3457 sees risk lower for 3366 and 3310.


If you want to see more, you can view the full EuroSTOXX future report with screencasts, levels and day trade views - click here
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Daily EuroSTOXX 50 Future Chart (June Contract)


2 Hour EuroSTOXX 50 Future Chart (June Contract)


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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