- Next support is currently 11.43 points away at 3,951
- Relative Strenght Index (RSI) indicates the STOXX Europe 50 Index is currently overbought
In the midst of a 17 day bullish trend, Friday's session put the brakes on the ongoing uptrend — a quiet day for the STOXX Europe 50 Index as it remained range-bound within a 3,951.64 – 3,975.17 range before closing at 3,962.41.
The index has been trending positively for about a month. A month ago, the STOXX Europe 50 Index fell to a low of 3,279 but has since recovered 20.83%.
The STOXX Europe 50 Index chart analysis: EuroSTOXX is approaching key support, around 11.43 points away from 3,951. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Momentum evaluation shows that the Relative Strength Index indicates the STOXX Europe 50 Index is in an overbought condition.
Upcoming fundamentals: Germany Consumer Price Index figure is projected at 10.3%. It previously stood at 10.4%; data will be released tomorrow at 13:00 UTC.