Near Term Trend: Positive
Fridayâ€™s Close: 3314 (+ 35)
UPDATE: Five months ago we stated, â€śOverall key resistance is 3115â€ť.
As of 6 Â˝ weeks ago and nearly a year of failed attempts, the STOXX 50 broke out to the upside â€“ see chart.
We called attention to the breakout as soon as it materialized therefore our faithful readers should have been prepared to take advantage of the buying opportunity at that time.
Longer term key support is currently 3120.
Near term KEY support is 3252.