Rising trends for Euro Stoxx 50 are positive for sentiment
May’s rally was extended on Thursday, investors buying futures to post a third rising day in a row and a gain of 27 points on the day.
The rising trend of higher weekly and daily lows are positive for sentiment, as the improvement has taken prices above their 13, 50 and 100 day moving average rates and keeps the focus on the 200 day line.
Management and risk description
Allow room to buy the dip and raise the stop to the entry point if the first target is met.
Entry: market and 3041, just above yesterday's low.
Stop: 3029, Wednesday's Marabuzo line.
Target: 3082 and 3130, the March high
Time horizon: Today only
— Edited by Robert Ryan
Non-independent investment research disclaimer applies. Read more