European equity markets, shown here on the hourly chart of the EuroSTOXX 50, are primed for a substantial (over 5% drop) from current levels. First supports are at 2400 (a 4.6% drop from current levels).
This view is invalid on penetration of 2540 (to the upside) and gains strength on closing the morning gap (2488).
Aidyn Kussainov
London, UK.
+44 (0) 7917 274 989
1 comment:
One never knows in this environment, but I have to wonder if this rally is about to run out of gas. Am not an EW person, but the US action of the last two days smacks of a "throw over". And the NYSE, DJ-20 and RUT-X action over the past year is not exactly longer-term bullish from my perspective.
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