EUROSTOXX 50

EUROSTOXX 50

1 December 2017, 18:24
Dragan Drenjanin
0
37

EUROSTOXX 50 : The bearish trend can resume
Date of analysis 01 December 17



INDICATOR
  • Opinion Short Term Negative
  • Resistance 1 3678.14PTS
  • Support 1 3506.39PTS
  • Opinion Mid Term Bearish
  • Support 2 3463.45PTS
  • Resistance 2 3721.08PTS

STRATEGY
Below 3678.14 PTS the major trend remains bearish 3506.39 PTS and then 3463.45 PTS are in the line of sight. The surpassing of 3678.14 PTS would cancel this anticipation and favor a recovery toward 3721.08 PTS.

SUMMARY
The MACD is negative and lower than its signal line. This configuration is damaging the index perspectives. The RSI is not yet indicating an oversold situation, so a continuation of the fall is technically possible. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are less than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The index is oriented to the downside. It is under its 50-day moving average located at 3601.7. The 20-day moving average (lower than the 50-day moving average) is maintaining the prices under medium-term sell pressure. Our first support is at 3506.39 PTS and the next is at 3463.45 PTS; the resistances, located at 3678.14 PTS and at 3721.08 PTS must be exceeded for the trend to undergo a reversal.
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