SX5E: technical analysis
07 May 2018, 11:40
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 3548.0 |
| Take Profit | 3520.0, 3500.0, 3481.0 |
| Stop Loss | 3563.0 |
| Key Levels | 3481.0, 3500.0, 3520.0, 3563.0, 3574.0, 3610.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 3574.0 |
| Take Profit | 3610.0 |
| Stop Loss | 3557.0 |
| Key Levels | 3481.0, 3500.0, 3520.0, 3563.0, 3574.0, 3610.0 |
SX5E, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains just above its moving averages that start turning up. The RSI is turning down, having failed the border of the overbought zone. The Composite is testing from above its longer MA, having formed a divergence with the price.
SX5E, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is falling, having formed a Bearish divergence with the price. The Composite is testing from below its longer MA.
Key levels
Support levels: 3520.0 (local lows), 3500.0 (March 2017 highs), 3481.0 (local lows).
Resistance levels: 3563.0 (local highs), 3574.0 (October 2017 lows), 3610.0 (December 2017 highs).
Trading tips
The price has retested from below its previous ascending trendline. There is a chance of a downward reverse.
Short positions can be opened from current prices with targets at 3520.0, 3500.0, 3481.0 and stop-loss at 3563.0. Validity – 3-5 days.
Long positions can be opened from the level of 3574.0 with the target at 3610.0 and stop-loss at 3557.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains just above its moving averages that start turning up. The RSI is turning down, having failed the border of the overbought zone. The Composite is testing from above its longer MA, having formed a divergence with the price.
SX5E, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is falling, having formed a Bearish divergence with the price. The Composite is testing from below its longer MA.
Key levels
Support levels: 3520.0 (local lows), 3500.0 (March 2017 highs), 3481.0 (local lows).
Resistance levels: 3563.0 (local highs), 3574.0 (October 2017 lows), 3610.0 (December 2017 highs).
Trading tips
The price has retested from below its previous ascending trendline. There is a chance of a downward reverse.
Short positions can be opened from current prices with targets at 3520.0, 3500.0, 3481.0 and stop-loss at 3563.0. Validity – 3-5 days.
Long positions can be opened from the level of 3574.0 with the target at 3610.0 and stop-loss at 3557.0. Validity – 3-5 days.
No comments:
Write comments