Analyse Technique et Conseils Boursiers


Source : Reuters lire le PDF

The STOXX Europe 600 index, the euro zone Euro STOXX 50 and Germany's Dax moved into "overbought" territory on their 20-day Relative Strength Index, a momentum indicator, meaning that some short-term sellers may start to take profit on the indexes in the coming days.

Charts on the STOXX 600 also showed the pan-European gauge closed at a resistance level, 285, that capped the index twice in May 2011.

"If you're long, you should stay long and set a stop loss, but if you're not long it's pretty dangerous to buy now," Valerie Gastaldy, the head of Paris-based technical analysis firm Day-By-Day, said.

"If we consolidate now it will not be a very steep fall, but if we get to (the 2011 peak at) 292, that will be really overstretched."

She recommended setting a stop loss at 281, the higher end of a gap between Wednesday's open and the previous session's high.

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