FlowState

Stoxx50 Reversed Off Resistance, Potential Further Drop!

Short
TVC:SX5E   Euro Stoxx 50 Index
Stoxx50 reversed off its resistance at 3281 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 3196 (horizontal swing low support).
Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.

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