DAILY Sep'19 EUROSTOXX - Friday's trade idea and technicals
Sep'19 Contract – For the 3rd day in a row Thursday’s signals pointed higher. However, initial 28 Pt gains attracted sellers from close to the May 2018 top at 3576, sentiment deteriorating by 86 Pts from the day’s 3569 high. Although this is negative the pullback may be temporary profit taking and buyers have returned to the market at 3483, the window which had been left open since Monday’s closing trade. Sentiment has recovered further in Asia, but this should be temporary and the outlook for Friday remains bearish, but cautious to start with the call is to stay square on the open and to sell on the rally at 3541, yesterday’s opening trade with a stop loss at 3569, yesterday’s high, or to sell down through 3483, yesterday’s low with a stop loss at 3515. Targets below 3483 are to 3462/65, July’s base and 3428, the 28th June low trade.
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