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EuroStoxx50 Technical Analysis

Stoxx50 has now broken the rising daily channel base with initial support noted at Thursday’s 3216.3 low.

The sell-off continues to see fresh 8 month lows with bears now focused on

The 21-DMA capped the rally Friday with bearish pressure having been reconfirmed to start the new week with

After having spent most days last week putting in fresh lows for the week Stoxx50 still managed to

The sell-off has resulted in fresh 8 month lows with bears focused on the $1182.4-1201.9 region

The sharp correction higher from the dip to fresh 8 month lows on Thursday provides bulls with

The sequence of lower daily lows continued Thursday and combined with O/B daily studies and

Gold continues to work its way towards the $1240.5 June monthly low with

Bearish dominance was reconfirmed Wednesday with the sell-off that saw a dip below the

O/B daily studies remain a concern for bulls with lower daily highs and

Gold continues to work its way towards the $1240.5 June monthly low with

The lack of follow through on Monday’s dip to $91.80 and the failure to