Euro Stoxx 50 may fall to 4880.00 - 4950.00

Pivot

5121.00

Our preference

Short positions below 5121.00 with targets at 4950.00 & 4880.00 in extension.

Alternative scenario

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

Comment

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

Supports and resistances

5260.00 **

5195.00 ***

5121.00 ***

4995.46 Last

4950.00 ***

4880.00 ***

4700.00 **

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