Stoxx50 – Bearish break inside larger falling trend

TVC:SX5E   Euro Stoxx 50 Index
A corrective rally inside a larger descending trend line has officially ended yesterday, given the bearish break from a smaller rising channel seen on the daily chart (on left hand side).

The daily MACD has turned bearish as well, suggesting the upticks are likely to find fresh sellers.

The downside towards 2900 stands exposed and the bearish invalidation is seen only if the index ends the day above 3K levels.
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