SX5E: technical analysis
17 December 2018, 11:33
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 3084.6 |
| Take Profit | 3030.0, 3005.0, 2975.0 |
| Stop Loss | 3125.0 |
| Key Levels | 2975.0, 3005.0, 3030.0, 3140.0, 3205.0, 3220.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 3140.0 |
| Take Profit | 3205.0, 3220.0 |
| Stop Loss | 3100.0 |
| Key Levels | 2975.0, 3005.0, 3030.0, 3140.0, 3205.0, 3220.0 |
SX5E, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from below its longer MA. The Composite is showing similar dynamics.
SX5E, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from above its longer MA. The Composite is falling, having broken down its longer MA.
Key levels
Support levels: 3030.0 (local lows), 3005.0 (local lows), 2975.0 (December 2016 lows).
Resistance levels: 3140.0 (local highs), 3205.0 (local highs), 3220.0 (local highs).
Trading tips
The price is consolidating below its strong resistance near 3140.0. The fall is likely to continue.
Short positions can be opened from current prices with targets at 3030.0, 3005.0, 2975.0 and stop-loss at 3125.0. Validity – 3-5 days.
Long positions can be opened from the level of 3140.0 with targets at 3205.0, 3220.0 and stop-loss at 3100.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from below its longer MA. The Composite is showing similar dynamics.
SX5E, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from above its longer MA. The Composite is falling, having broken down its longer MA.
Key levels
Support levels: 3030.0 (local lows), 3005.0 (local lows), 2975.0 (December 2016 lows).
Resistance levels: 3140.0 (local highs), 3205.0 (local highs), 3220.0 (local highs).
Trading tips
The price is consolidating below its strong resistance near 3140.0. The fall is likely to continue.
Short positions can be opened from current prices with targets at 3030.0, 3005.0, 2975.0 and stop-loss at 3125.0. Validity – 3-5 days.
Long positions can be opened from the level of 3140.0 with targets at 3205.0, 3220.0 and stop-loss at 3100.0. Validity – 3-5 days.
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