AEX approaching resistance, potential drop! AEX is approaching our first resistance at 510 (61.8% fibonacci retracement, 61.8% fibonacci extension, descending channel resistance, horizontal overlap resistance) and a strong drop might occur below this level pushing price down to our major support at 485 (61.8% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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