The broad Euro Stoxx index 2.1% from the all time high

Technical Analysis

Author: Greg Michalowski | euro-stoxx

Moved to the highest level since 2015 today

The price of the broad Euro Stoxx 600 index has moved higher on each of the last 5 trading days and in the process has moved above the 2018 high at 403.72. That is not a close risk level for longs. The index closed at 406.56. The high reached 406.94.

Moved to the highest level since 2015 today
The index is now 2.1% away from the 2016 all -time high at 408.73.  It is getting closer but as you can see, there is a lot of ups and downs in the index.  So moves are one step at a time.

However, since bottoming most recently in December 2018 at 327.34, the brought index is up 24.2% (from the low to the close today). Not a bad price move for the broad index.

Technically, the price based near the 200 day moving average (green line) at the beginning of October and that hold, gave buyers to go ahead to run the price higher.   Moves above the 395.10 level. The 397.86 level and the most recent 403.72 level, are all bullish developments.

Can the momentum continue? The next step for the bulls is that 408.73 high price going back to 2015, and the all-time high at 415.18. 

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