The EUROSTOXX 50 confirmed another very strong closing definitely confirming the bottom. The monthly closing was instead mixed but at least it managed to recover toward the previous month’s closing.
The indicators of the daily chart are now well positive as well as those of the s/t ones supporting further strength. However, overbought conditions in the hourly chart as well as potential negative reversals could limit further direct strength favouring a correction. because of the price action we suggest however waiting a little longer before trying short position because while 2308 we could see a direct extension of the rally toward the 2390 area.
We remain on the sideline.
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FUTURE TREND RESEARCH