Euro Stoxx 50 may fall to 4880.00 - 4980.00

Pivot

5121.00

Our preference

Short positions below 5121.00 with targets at 4980.00 & 4880.00 in extension.

Alternative scenario

Above 5121.00 look for further upside with 5195.00 & 5260.00 as targets.

Comment

The index currently faces a challenging resistance area at 5121.00.

Supports and resistances

5260.00 **

5195.00 ***

5121.00 ***

5066.90 Last

4980.00 ***

4880.00 ***

4700.00 **

Number of asterisks represents the strength of support and resistance levels.