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EuroStoxx50 Technical Analysis

Last week’s rally stalled ahead of the 200-DMA Thursday before dipping to test the 21-DMA on Friday.

After having struggled at the 21-DMA earlier in the week the sell-off gathered momentum Thursday with

The aggressive bounce from fresh 6 month lows combined with O/S daily studies and

Recent pressure on 3095.2 resulted in a break higher and bullish close Thursday that turns attention to the 200-DMA.

With gold having recently started to look comfortable below the 21-DMA the precious metal has

Initial resistance remains $93.69-94.37 region with bulls needing a close above $94.37 to

3094.6-3129.0 remains key to direction with the 21-DMAs, 38.2% Fibonacci retracement and

Gold is starting to look comfortable below the 21-DMA ($1301.2) as it dips back

Initial resistance is noted in the $93.42-94.37 region with bulls needing a close above $94.37 to

Bounces from recent dips combined with correcting previously O/S daily studies have resulted in

Gold is starting to look comfortable below the 21-DMA ($1301.9) with another dip towards the triangle base Monday.

Consolidation below the 200-DMA continued Monday with U14 managing an inside day to start the new week.