SX5P trade ideas
STOXX longer term view: Bearish BAT might hit 2400I have just shared a short term view on Stoxx this morning.
If we look back to 2008, it has actually formed a bearish BAT. if Stoxx continues to fall from 3200 level, it might eventually reach the target price 2 of 2400 level. Let's see.
Stoxx Short term view: Long Stoxx till 3200 then short. Quite many banks have bullish view on Europe equity market since last year. but how has it been? disappointing...
Short term view on Stoxx:
Anyway, short term bullish to hit 3200 to form the bearish BAT. After that, should drop till 2810 level.
Elliott Wave Analysis & Forecast, STOX50, M1, 20151222As per Elliott wave rules and above count we are in blue wave iii of green wave Y. Green wave X start @ 1583 and formed zigzag in in three sub-wave red ABC which finish at 3602 placing Long Term Top there. The ideal target green wave Y is near 700-750 area or even lower where we will expect strong support and long term buyers enter the market to push up beyond the previous high. For medium term price will decline impulsively in blue wave iii that can go 2145 or slightly low near 2000 a major psychological level.
muhiuddin
