Euro Stoxx 50 may fall to 4720.00 - 4820.00

Pivot

5121.00

Our preference

Short positions below 5121.00 with targets at 4820.00 & 4720.00 in extension.

Alternative scenario

Above 5121.00 look for further upside with 5209.00 & 5280.00 as targets.

Comment

As long as 5121.00 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

5280.00 **

5209.00 ***

5121.00 ***

4973.70 Last

4820.00 ***

4720.00 ***

4695.00 **

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