SX5E: technical analysis
21 May 2018, 11:22
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 3545.0 |
| Take Profit | 3521.0, 3502.0 |
| Stop Loss | 3562.0 |
| Key Levels | 3502.0, 3521.0, 3545.0, 3592.0, 3623.0, 3639.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 3592.0 |
| Take Profit | 3623.0, 3639.0 |
| Stop Loss | 3578.0 |
| Key Levels | 3502.0, 3521.0, 3545.0, 3592.0, 3623.0, 3639.0 |
SX5E, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is forming a Bearish divergence with the price, having failed the border of the overbought zone. The Composite is testing from below its longer MA.
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 about to retest the border of the overbought zone. The Composite is about to test from below its longer MA.
Key levels
Support levels: 3545.0 (local lows), 3521.0 (April highs), 3502.0 (local lows).
Resistance levels: 3592.0 (local highs), 3623.0 (local highs), 3639.0 (local highs).
Trading tips
The price keeps testing from below its previous ascending trendline. There is a chance of a downward correction, while a breakout of local highs would allow the growth to continue.
Short positions can be opened from the level of 3545.0 with targets at 3521.0, 3502.0 and stop-loss at 3562.0. Validity – 3-5 days.
Long positions can be opened from the level of 3592.0 with targets at 3623.0, 3639.0 and stop-loss at 3578.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is forming a Bearish divergence with the price, having failed the border of the overbought zone. The Composite is testing from below its longer MA.
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 about to retest the border of the overbought zone. The Composite is about to test from below its longer MA.
Key levels
Support levels: 3545.0 (local lows), 3521.0 (April highs), 3502.0 (local lows).
Resistance levels: 3592.0 (local highs), 3623.0 (local highs), 3639.0 (local highs).
Trading tips
The price keeps testing from below its previous ascending trendline. There is a chance of a downward correction, while a breakout of local highs would allow the growth to continue.
Short positions can be opened from the level of 3545.0 with targets at 3521.0, 3502.0 and stop-loss at 3562.0. Validity – 3-5 days.
Long positions can be opened from the level of 3592.0 with targets at 3623.0, 3639.0 and stop-loss at 3578.0. Validity – 3-5 days.
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