Technicals - Eurostoxx50 index sell signal generated

Angela Mangan

The Eurostoxx50 index originally generated a technical buy signal at 2885 on 11/7/16 which was identified as the technical turning point. This was followed by a secondary technical buy signal generated at 3029 on 9/8/16. The index has now completed a technical top formation / closed below key support which has generated a technical sell signal.

The index technical outlook has turned negative - the first trend change since July 2016.

The minimum downside target is located at 3350.

( The Eurostoxx50 index technical sell follows the sell signal generated by the CAC index on 15/6/17, with the downside target located at 4950, as highlighted in recent Wire).(VIEW LINK)


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