SX5E: technical analysis
16 August 2018, 12:51
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 3339.0 |
| Take Profit | 3305.0, 3260.0 |
| Stop Loss | 3369.0 |
| Key Levels | 3260.0, 3305.0, 3339.0, 3420.0, 3445.0, 3465.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 3420.0 |
| Take Profit | 3445.0, 3465.0 |
| Stop Loss | 3403.0 |
| Key Levels | 3260.0, 3305.0, 3339.0, 3420.0, 3445.0, 3465.0 |
SX5E, D1
On the daily chart, the instrument is trading below the lower line of the Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is testing the border of the oversold zone. The Composite is approaching its strong support.
SX5E, H4
On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is trying to leave the oversold zone, having formed a Bullish divergence with the price. The Composite is showing similar dynamics.
Key levels
Support levels: 3339.0 (June lows), 3305.0 (April lows), 3260.0 (March lows).
Resistance levels: 3420.0 (local highs), 3445.0 (March highs), 3465.0 (local highs).
Trading tips
The price is testing a strong support near 3339.0. There is a chance of an upward correction, while its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 3339.0 with targets at 3305.0, 3260.0 and stop-loss at 3369.0. Validity – 3-5 days.
Long positions can be opened from the level of 3420.0 with targets at 3445.0, 3465.0 and stop-loss at 3403.0. Validity – 3-5 days.
On the daily chart, the instrument is trading below the lower line of the Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is testing the border of the oversold zone. The Composite is approaching its strong support.
SX5E, H4
On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is trying to leave the oversold zone, having formed a Bullish divergence with the price. The Composite is showing similar dynamics.
Key levels
Support levels: 3339.0 (June lows), 3305.0 (April lows), 3260.0 (March lows).
Resistance levels: 3420.0 (local highs), 3445.0 (March highs), 3465.0 (local highs).
Trading tips
The price is testing a strong support near 3339.0. There is a chance of an upward correction, while its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 3339.0 with targets at 3305.0, 3260.0 and stop-loss at 3369.0. Validity – 3-5 days.
Long positions can be opened from the level of 3420.0 with targets at 3445.0, 3465.0 and stop-loss at 3403.0. Validity – 3-5 days.
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