Euro Stoxx 50: Failure to overcome 4240 could mean a deeper down move – SocGen
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After probing graphical support at 4030, a bounce in Euro Stoxx 50 is underway. But if the index fails to surpass the 4240 mark, a deeper down move would be the most likely scenario, in the view of economists at Société Générale.
“Failure to overcome 4240, the 76.4% retracement of recent pullback could mean risk of a deeper down move.”
“Break of 4030 can extend the decline towards 3910 and December low of 3800/3770.”
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