Tag Archives: EUROSTOXX 50

Choppy sideways trading within the recent 3150.6-3211.5 range continued Thursday.

Choppy trading around the 100-DMA, failure to retest last week’s lows and O/S daily studies looking to

Stoxx50 was unable to capitalize on the close marginally above the 100-DMA with the move lower Tuesday reconfirming bearish focus.

With daily studies now at modestly O/S levels Stoxx50 bounced to close marginally above the 100-DMA and record a relatively bullish close,

The move lower continued Thursday with Stoxx50 bouncing a little from

The significance of the 3178.6-3184.5 support region was confirmed Wednesday with

The move lower continued for Stoxx50 on Tuesday closing below both the rising daily channel base, 55-DMA and June monthly low.

The close below the 3243.0 previous support Monday confirms an easing of bullish pressure with

The 3243.0 initial support remains key for bears this week with a close below needed to ease the bullish pressure that has developed with the bounce from last Monday’s low.

The recovery from the June monthly lows set earlier this week has resulted in a relatively bullish close above the 21-DMA,