Daily chart: MACD negative divergence, and likely a bearish cross soon, Slow Stoch is bearish, DMI gave sell signal. Will it be a double top pattern? Supports at 3046-3065 4 Hrs chart: Inner trend break, DMI sell signal, Tenkan/Kijun weak bearish cross above the cloud, Future cloud is close to a bearish cross, Price testing 100 WMA. However actual Kumo...
It is very hard to give any high probability prediction here, still looks like consolidation within a tightenning triangle on 4 Hrs chart. Bulls need a decisive break above 3160 to keep the rally alive. If 3120 breaks, then we will see a bit deeper correction, but since Kumo is very thick, the same px action can occur like in case of EURUSD recently. So it can be...
Two daily reversal candle, followed by todays px action. Daily MACD turning down slowly, Slow Stoch back below 80. 4 Hrs trend breaks just now, DMI close to a bearish cross. Bund is flying, EURCHF down.
Equities are getting close to a major correction again. Maybe it is time to put on some initial shorts, or buy put options.
We are still far from a major selloff,...
No doubt, Stoxx50 indx still behaves bullish. All indicators are OK on the 4 Hrs chart: DMI+, trades above Kumo and Kijun, Tenkan above Kijun, Chikou is above px and has some open space ahead, Kumo is far away from px and future Kumo is pointing up. What's more, the daily chart looks supportive too. Maybe it is short term overbought, so pull back can happen to...
I think some very annoying range consolidation is ahead of this mkt. It can last for several more days (a week maybe?) befor equities find the new direction and any trend starts. It should either massively go out to new highs (above 3155) to be able to continue current bullish run, or it will reverse, and then the bearish trend will be very agressive and...
Just like SP500, the EuroStoxx50 Indx looks tired a bit.
On 4H time frame even DMI crossed bearish, but due to rel low ADX needs more confirmation.
Is correction on the way down to 3060?
I'm following this index for a while and I think that there are no reasons for the idex to be outside the lower part of the channel, therefore, I am long on this index and for the first quarter of the year I think it will reach the 3200 and keep those levels until June 2014.
Looking forward to hearing your comments about my thoughts on this.
Thanks,
Ricardo Cardoso
Unlike the US indexes, the European indexes continue to find higher ground. Today the Euro Stoxx 50 formed a bullish pin bar on the 4hr chart, climbing for 12 straight hours. The index is currently sitting below key resistance at 3125. Bears wanting to get short have their level here. Bulls can look for a breakout pullback setup above, or a corrective pullback to...
Eurostoxx 50 futures is located close to a major resistance level. The analysis on the weekly chart is crucial. The eurostoxx is set to rise strongly, but struggled to overcome the resistance placed in area 3085. On the daily chart we can see a congestion zone supported by the key level of 3000 points (round figure) who holds the future trapped between these two...
Rising wedge formation in the chart with possible break out points marked according to the recent movements that were less and less steeper. Resistance levels would be 2952 and 2890. Downward break outs should occur from 05-07/11 or on a second try 1 1/2 weeks later. This pattern is broken if the price breaks the upper resistance trendline.
After consolidating for about two weeks, the EUSTX50 screamed higher gaining about 90 points within the last two days. In the process, it broke through a multi-year resistance level shooting vertical over today. Any pullbacks towards 2955 should be considered buying opportunities, targeting 3000, and 3100. Bullish bias remains while daily closes are above this level.
Forming what could possibly be an HS (head and shoulders pattern) on the H4 chart, the EUSTX50 has bounced handsomely off the neckline. I'm expecting an LH before the 2860 level, which if the price action looks to weaken up there, I'll look to short for a move back down to 2772 and possibly a much larger move lower towards 2718.
