Other Markets

EuroStoxx50 Technical Analysis

Gains initially continued Friday with Stoxx50 working its way towards the current bullish target

The $1242.7 level confirmed its significance as initial resistance Tuesday with

Time spent above the 21-DMA was brief with the close below reconfirming bearish pressure and

The bounce from the 21-DMA continued Thursday with the close above the previous 3255.3 resistance level

The $1242.7 level confirmed significance as initial resistance with bulls continuing to

The rally is looking a little shaky following the failure at the longer term falling daily trend line with

The run of lower daily highs on all but 1 of the previous 8 trading days came to

The $1242.7 level confirmed its significance as initial resistance Tuesday with bulls continuing to

Following the recent bounces from below the $91.50 level the close well above the 21-DMA sees

As Stoxx50 distances itself further from the 3255.3 initial resistance level, focus is shifting to

Despite an inside day Monday bears remain focused on the $1182.4-1201.9 region

Yet another dip below $91.50 has lacked follow through with bulls taking comfort in the bounce back towards the 21-DMA.