Eurostoxx 50 fut: daily indicators have turned bearish - Natixis

According to Micaella Feldstein, Research Analyst at Natixis, the daily volatility remains low for Eurostoxx 50 fut and the daily indicators have turned bearish.

Key Quotes

“Besides, the weekly stochastic is in the overbought territory and the weekly volatility has stabilized. Against this backdrop, we expect further downward consolidation in the next 2/3 weeks.”

“We’ll recommend keeping a lookout at the support at 3271 (daily Bollinger moving average) whose break would lead to 3215 (daily Bollinger lower band) ahead of 3190 (9-week moving average). Note that these dips shouldn’t affect the underlying upside trend. The resistances are located at 3326-3337, at 3380-3387, at 3460, at 3500 and at 3565.”