EuroStoxx50 Tech. Analysis 20-Nov-2015
The index started the week by testing its lowest again at 3326 before restarting its uptrend. It felt short of hitting the above resistance at 3483, reaching 3447 instead.
The next resistance is the 3500 points one (light green) but this one has lost some significant since the index went through during spring this year. A consolidation above would actually be a good sign for Long Term investment, given this resistance comes from 200 and 2007 levels.
A stronger bullish sign would be a breakout above the 3540 mark, which would open the way to the 4000 points mark later.
Indicators don't give a clear signal yet but seem more on the bullish side than the bearish one.
Long holders would keep their positions. No short adviced. Buy above 3500 as a Long Term investment.
The next resistance is the 3500 points one (light green) but this one has lost some significant since the index went through during spring this year. A consolidation above would actually be a good sign for Long Term investment, given this resistance comes from 200 and 2007 levels.
A stronger bullish sign would be a breakout above the 3540 mark, which would open the way to the 4000 points mark later.
Indicators don't give a clear signal yet but seem more on the bullish side than the bearish one.
Long holders would keep their positions. No short adviced. Buy above 3500 as a Long Term investment.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.