Banco Espírito Santo roils European markets

Dow Jones Euro Stoxx 50 broke support at 3200/3220, warning of a correction to the primary trendline at 3000. Solvency doubts over struggling Portuguese Banco Espírito Santo have roiled European markets. Recovery above 3200 is unlikely at present.

Dow Jones Euro Stoxx 50

* Target calculation: 3150 + ( 3150 – 3000 ) = 3300