Technicals - key European index buy signals generated

Angela Mangan

QMG Pty Ltd

Yesterday it was flagged that key European indices had the potential to generate technical buy signals. As a result of of the further rally last night the Eurostoxx 50 (see chart below), DAX and CAC indices closed above key resistance barriers, thereby generating technical buy signals. It is a positive momentum indicator for the European market outlook that these index buy signals have been generated simultaneously. Situations where a "cluster of signals" have been generated within a particular sector of the market, or at a regional level, has previously been accurate in identifying major turning points. The most recent illustration of this was the key European index sell signals generated on 13/6/16, prior to the market sell off.

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Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.


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