vlad.adrian
Short

Europe - Tripple Top

EUREX:FX1!   Euro Stoxx 50
204 1 6
As I said in the Dow analysis I posted yesterday, every major market shows signs of a top.

Europe has a triple top with double bearish divergence. I will watch for a fall to around 2970, in the first place.

I see major support at 2850 - 2900 area.

Tripple top target is around 2720 but that is very far away.

Check out the volume pattern, how it diverges from price. The fact that volume is much higher on the legs down is telling us that more money is getting out than getting in.

I think there's a high posibility of lateral movement for some time. As long as there is no close over 3174, I keep my bearish bias.
Couldnt agree more...
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