nivelij01
Long

Potential Reversal upon Closing Above EMA(5)

FX:EUSTX50   Euro Stoxx 50 Index
I can see a potential Long setup for EUSTX50 index. Couple of things that I observed:
1. Price is currently retesting EMA (200) and this is also a resistance-turned-support zone (back in April 2017).
2. A divergence observed between the chart and RSI (14), as chart is making lower low, whereas RSI (14) is making higher low.

If price can close around 3530 (which I roughly calculate should be when it close above EMA (50)), then I may open a Long position. Otherwise, no trade on this index.
Comment: Typo, it's EMA(5), not EMA(50)
Trade closed manually: Closed the trade with profit for now.
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