28 February 2018, 10:59
Dragan Drenjanin


Above 3223.77 PTS the EUROSTOXX 50 is heading toward 3646.69 PTS over the short term. Below 3223.77 PTS the movement would reverse and then correct toward 3153.28 PTS.


The MACD is negative but is situated above its signal line: the trend is changing. Now, the MACD must clear zero for the rise to continue in the coming days. The main indicator of the movement's strength (RSI) shows that the technical situation is quite healthy, as it is not overbought. The volumes traded are less than the average volumes over the last 10 days.


Since the recent low at 3325.99 PTS the index has been in a phase of technical recovery towards its 50-day moving average located at 3531.41: the price reaction on this level will allow us to envisage a continuation of the movement in the medium term. To alleviate this position, we could wait to test the short-term resistances located at 3646.69 PTS and 3717.17 PTS. The supports are at 3294.26 PTS then at 3223.77 PTS .

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