Euro Stoxx 50 may rise to 4980.00 - 5082.00

Pivot

4770.00

Our preference

Long positions above 4770.00 with targets at 4980.00 & 5082.00 in extension.

Alternative scenario

Below 4770.00 look for further downside with 4660.00 & 4570.00 as targets.

Comment

A support base at 4770.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances

5280.00 **

5082.00 ***

4980.00 ***

4862.88 Last

4770.00 ***

4660.00 ***

4570.00 **

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