The Eurostoxx50 is pulling itself back from yesterday's collapse
As we saw yesterday, markets have impacted each other and that impact led to a huge collapse. One of the impacted markets was the Eurostoxx50! I said in my analysis that i would go bearish and so did it but after a long rally ended up with going bearish eventually.
This morning, the market started with an immense explosion in volume showing a strong bullish sign in price, but that is not enough since there is a strong resistance zone right above it at 3233 that the price should break before taking off upward. If not, the price may consolidate between the resistance zone at 3233 and support zone at 3210. The breaking of either zones will reveal- the real intention of the market. We'll just wait and watch.
This morning, the market started with an immense explosion in volume showing a strong bullish sign in price, but that is not enough since there is a strong resistance zone right above it at 3233 that the price should break before taking off upward. If not, the price may consolidate between the resistance zone at 3233 and support zone at 3210. The breaking of either zones will reveal- the real intention of the market. We'll just wait and watch.
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