Europe 50 stocks test resistance zone

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The European top 50 stock index found support in early March in the late 2020 low level at 3,400.00. The event was followed by a recovery, which since March 15 appeared to be making tests of the resistance of the 3,915.00/4,030.00 zone. This zone had been acting as support since April 2021, before failing in late February of 2022.

If the index bounces off the resistance zone, the stocks might encounter some support in round price levels, before approaching the 2022 low level at 3,400.00.

On the other hand, a surge would have to pass the resistance of the 3,915.00/4,030.00 zone and the 50-day simple moving average near 3,980.00, before approaching the 200-day simple moving average near 4,130.00. Higher above, take into account the February high level zone at 4,240.00/4,265.00.
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Mon, 28 Mar 2022 10:46:20 GMT

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