After the fall of yesterday, the.Eurostoxx50 continued to move downward especially after crossing the 3112 barrier that the price retraced from, giving the bears the leads to take market down being supported with high volume that confirmed fall.
The market showed its intention to go bearish at the opening with significant rise of volume, then reversed for a while. But when the price broke the 3136 area, it got momentum and could move downward heavily the rest of the day.
The market started strong by pushing down as the bears entered the market with high volumes to put a great impact on the market, but the bulls have squeezed the sellers at 3138 giving a feeling that the market may reverse go heavily upward. But the price should break a very important area in order to continue its way upward which is 3169, and if the price could...
The price could break a very strong area at 3217 and then moved downward heavily with the support of big volumes, giving us a great opportunity to enter at 3214 and then exit the trade profitably at 3175. Congratulations champs!
I see a strong inclination of the market to go bullish since it already broke a resistance zone at 3227 and it is supported with a significant awakening in the volume. Once the green volume explodes, we will see a beautiful long trade but you should watch for the resistance zone at 3255 that might reverse the market.
FESX EUROSTOXX FUTS
Euro Stoxx like the DAX continue to show the same sideways indecision irrespective of the US EQUITY market. We continue to wait for BREXIT EU discussion for potential catalyst to give these markets direction
Technicals on the weekly point to a GAP RISK point of interest at 3118
This would give only trigger with a breakdown through...
the market woke up with a very strong volume for the favor to the bulls giving them the lead to raise the price upper. The break of the 3252 point gave us a strong feeling that the market has an intention to go bullish but it has to break another strong point at 3287. Otherwise, we will see a strong resistance from the bears to go bearish.
I will just give a overview of the behavior of the market for last week's Thursday and Friday as i did not the chance to share my ideas at that time due to my computer issue.
As you can see on the chart, there was a calm both price and volume before the bearish storm started to take the market down giving us a beautiful short trade on the 15th October.
On the 16th...
As i said this morning, the market already gave us a strong buy signal and you better at 2372 but you should be careful as there is a very strong pivot area right above the target at 2373. The price might bounce back from that area and then change direction, but in case it breaks the resistance, the market might go higher.
The market gave a strong volume that lead to a significant bearish move but the price bounced back from the strong support zone at 3267 creating a spring effect showing that the price will move upward giving us a strong buy signal!
After the retracement, the price couldn't break the strong support zone at 3256 giving us another strong buy signal that we should...
As you can see from the chart, the price broke an important support zone at 3280 with high volume showing the real intention of the direction of the market. After that the price consolidated for a while to trap the buyers who went long. Then, the price collapsed heavily exceeding 3276 area that was a significant zone to break and went downward giving a beautiful...