Euro Stoxx 50 may fall to 4570.00 - 4660.00

Pivot

4950.00

Our preference

Short positions below 4950.00 with targets at 4660.00 & 4570.00 in extension.

Alternative scenario

Above 4950.00 look for further upside with 5050.00 & 5121.00 as targets.

Comment

As long as 4950.00 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

5121.00 **

5050.00 ***

4950.00 ***

4841.47 Last

4660.00 ***

4570.00 ***

4473.00 **

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