Euro Stoxx getting severely overbought on the daily chart & perhaps running out of steam. WE HAVE A POTENTIAL VERY NEGATIVE HEAD & SHOULDERS
Eurostoxx March contract Daily Forecast - 19 February 2014Euro Stoxx getting severely overbought on the daily chart & perhaps running out of steam. WE HAVE A POTENTIAL VERY NEGATIVE HEAD & SHOULDERS PATTERN & A SIGNIFICANT RISK OF A BIG SELL OFF AHEAD.
Only a sustained break & close above 3130 now allows prices to continue higher towards 3160/61 then 3176 January highs for an excellent selling opportunity & a negative double top expected.
Failure to beat 3125/30 could start to trigger profit taking already & target 3016 then 3090/85. A low for the day likely here but longs need stops below 3077 for 3066 then better support at 3055.
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