Kumowizard

It's all about risk/reward ($FESX weekly)

FX:EUSTX50   Euro Stoxx 50 Index
I don't say it is something to short, but it is certainly not a good risk/reward to buy or stay long in Eurostoxx50 at these levels.

Weekly parameters:
- Ichimoku setup is neutral.
- EWO is back to neutral
- Heikin-Ashi candle is still bullish , but haOscillator shows an early warning signal of a possible momentum loss ahead in coming weeks.
- Price reached a very important key resistance around 3310-3320
- Lower support is at Kijun Sen level 3180.

+ fundamentally Europe is close to a recession.

The bull run (or we may also call it a pull back) may take a pause in coming weeks. What is the chance for a dip to/below 3200 is early to say now. Such as it is early to decide what we had to do there should we reach it.
Again, think less about the future, consider more present risk/reward.

Idea: reduce European Equity exposure, maybe buy some put spreads.
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