253 views
Disclaimer:
Markets tend to go up - Acknowledged.
Here, participants widely expect a sovereign QE out of europe.
10,200 is resistance but breaking that would open to 11,000/11,600.
At the end of any rally, you have many supports on the way down that end up being broken.
Here, my view is QE in europe will not go down well (either wont happen or wont be well received).
Supports are:
9500
9110
8600
7235
My call: a large correction to 7200/7500 is in the brewer for the next few months.
Invalidation of that call: a close above 10300, which would keep me watching in amazement to 11,000
Comments
add support at 8200 fib channel, this fib channel is significant, the top was also at fib parallel of this channel at 10075
if 8200 /8150 last ATH broken, then 6000 target as longterm support