Elliott Wave Analysis & Forecast, STOX50, M1, 20151222

INDEX:MPY0   Stoxx 50
As 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.

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