The STOXX 50 index maintains a bearish outlook, aligned with the broader downtrend. Recent price action confirms a breakdown below a key consolidation zone, reinforcing the downward pressure.
Key Level: 5133
This level represents the former intraday consolidation zone and now acts as a pivotal resistance.
Bearish Scenario:
An oversold rally toward 5133 followed by a bearish rejection would reinforce downside momentum. If confirmed, this opens the path toward support at 4950, with extended targets at 4917 and 4840 over a longer timeframe.
Bullish Alternative:
A breakout and sustained daily close above 5133 would negate the current bearish setup. This shift could trigger a broader recovery, targeting 5211 initially, followed by a potential move to 5285.
Conclusion:
The technical structure remains bearish while the index trades below 5133. A rejection at this level would confirm further downside potential. Only a decisive break above 5133 would challenge the bearish bias and open the way for a bullish recovery.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Key Level: 5133
This level represents the former intraday consolidation zone and now acts as a pivotal resistance.
Bearish Scenario:
An oversold rally toward 5133 followed by a bearish rejection would reinforce downside momentum. If confirmed, this opens the path toward support at 4950, with extended targets at 4917 and 4840 over a longer timeframe.
Bullish Alternative:
A breakout and sustained daily close above 5133 would negate the current bearish setup. This shift could trigger a broader recovery, targeting 5211 initially, followed by a potential move to 5285.
Conclusion:
The technical structure remains bearish while the index trades below 5133. A rejection at this level would confirm further downside potential. Only a decisive break above 5133 would challenge the bearish bias and open the way for a bullish recovery.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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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.
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.