Squawk / 11 September 2016 at 18:47 GMT
OMXS30.I (SWE30.I), DAX.I(GER30.I), EU50.I are basically look alikes chart pattern wise. We, as anticipated experienced a pick up in volatility towards the end of last week. Below is a chart of the EU50.I. The Brexit happening is counted as a shock event in the chart below i.e. events like that only affect price, not the underlying trend which was up (always easy to determine after the fact...). In any case the cycle off the February 11 lows is now possibly over... In the EU50.I the 2 950 area stand out as a real divider between bear and bull going forward. For GER30.I it would be 10 390 and from there 10 080. SWE30.I has a key level at 1 407 for 1 388. After 1 388 we have the 1 350 is level which is very important going forward. Bulls need to catch a bid from those lower levels or before not to turn this into a deep re-test of the Feb lows...
Johan Berntorp Johan Berntorp
The above chart with the straight line down came out a bit too dramatic perhaps...here is a more bullish alternative which is of interest as well imo...
Johan Berntorp Johan Berntorp
OMXS30.I indicating an open at 1407, the DAX around 10390...


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