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EURO STOXX 50 FUTURES ANALYSIS


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EURO STOXX 50 FUTURES ANALYSIS

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  #1 (permalink)
VERSAILLES FRANCE
 
 
Posts: 553 since Jan 2013
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Market opened with a small upward gap which was filled immediately and market explored whether lower prices would attract Sellers but instead reactive Buyers were found at 2996, which was to be LoD. Market was then trendless untill the US data was released at 2.30 pm (Berlin Time).

First reaction was negative but very soon Buyers took the lead and the opening level was reached and passed.
Buyers did not loose the grip and the market ended near its HoD (3061).

At 3017, POC is above Thursday value and there are two HVN, one at POC level and the other one in the 3026-41 area.






As can be seen on the 1 day graph, result is a green candle with a lower shadow. Volume of the day is lower than the previous day and the candle is also shorter. Market ended at the upper hedge of the ICHIMOKU cloud, between MA 50 (in pink in the graph) and MA 20 ( in dark blue in the graph). Shikou span is just below the candle line.




On the 4H ICHIMOKU graph, we can see that Shikou Span is above the candle line, prices are above Kijun Sen and almost above the cloud. Stoxx is on the verge of breing on a bullish mode on the TU.




On the 4H graph, we can see that MA 44 ( in orange on the graph) and MA 23 ( in violet in the graph) are on support.




Candle of the week is green with a rather long lower shadow. Volume is bigger than the one associated to the big red candle, prior to the doji. On the short term (couple of weeks ?) reaching upper BB (3155) seems a reasonable bet. Weekly PP is at 3009 for the coming week. Prices ended above on Friday. R1, at 3074 is a target which seems at an easy reach.

3041 (upper end of friday's value) is a first support, then 3022 (upper end of a former ID range) and below LoD/MA44/Kijun Sen (2996/00) and further below LoW (2943).
On the resistance side, above HoD 3059 there is MA 20 (3066), R1 and former HoD (3074/79 and then R2 (3108).

As there are no important data to be released tomorwwo, unless there is an unexpected newslfow, I am expecting the day to be trendless within a 3026-3076 range.

Have a nice Sunday evening.

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  #3 (permalink)
VERSAILLES FRANCE
 
 
Posts: 553 since Jan 2013
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1 day graph.



4H ICHIMOKU graph



1 week graph.

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  #4 (permalink)
VERSAILLES FRANCE
 
 
Posts: 553 since Jan 2013
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Non globex market opened at 3052 with an upward gap with which was filled before 10 am and a first low was made at 3034. Reactive Buyers entered then into the market but where not able to push prices above opening level. Sellers then pushed harder and LoD was reached (3026) shortly after noon. Reactive Buyers then came back and market ended the non globex session at 3033.

At 3038, POC is higher than Monday (3016) and value is centered on POC.



As can be seen on the 1 day non globex graph, candle of the day is red and forms a black cloud over the previous candle. Volume is however very small if compared with the previous days and I therefore would not pay too much attention to today's session.

This post will be followed by another one after closing of the globex session (10 pm Berlin time).

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  #5 (permalink)
VERSAILLES FRANCE
 
 
Posts: 553 since Jan 2013
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Today's volume is so low that market presentation made on Sunday evening is still valid with basically support and resistance levels being the same.

Relaese of janet Yellen's speach at 2.30 pm (Berlin time) shall give the trend for the day.

Take care, much volatility might be ahead.

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  #6 (permalink)
VERSAILLES FRANCE
 
 
Posts: 553 since Jan 2013
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Globex open was with an upward gap and incentive Buyers made a first test of the 3068 resistance. At such level, reactive Sellers entered into the market and made prices retreating to opening leve, shortly after Janet Yelen's testimony release at 2.30 Berlin timel.

At 3047, reactive Buyers where there again but this time reactive Sellers gave up the 3068 resistance and non-Globex session ended at 3077. During the night session, what could be short position buying back happened and 3093 (HoD) was hit. Globex ended at 3083.

At 3062, POC is higher than Monday and there is an HVN at 3060.


Result is a grren candle, almost a loop belt (actually a loop belt for the non globex candle). Prices ended above the cloud, MA 20 and Kijun Sen. Shikou Span is almost above the candle line but it has to be confirmed tomorrow.



Prices are now above the cloud with Tenkan sen and Kijun Sen in support. Market is in bullish mode in this TU.



On the 4H graph, I traced a rising channel. MA 44 and 23 are in support.


I would not be surprised to see a retracement of Tuesday rise on Wednesday.

3068 (former resistance) is a first support with MA 20 (3061) not far then 3045 (LoD) and 3025 (former LoD and MA 23). Finally 3008 (Weekly PP and MA 44).
On the resistance side we have R2 (3106) then 3130 (former HoD) and finally 3177 (2014 top).

Have a nice trading day.

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  #7 (permalink)
VERSAILLES FRANCE
 
 
Posts: 553 since Jan 2013
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Market opened rouglhy where it closed Tuesday. After shily exploring whether lower prices would attract Sellers, making its LoD (3081), incentive Buyers entered the market and regularly pushed prices up. HoD (3111) was reached prior Mario Draghi's speach, not far from R2 (3008). At such level, reactive Sellers entered into the market which ended at 3099.

POC is at 3093 and volume of the day is smaller than yesterday.



Result is a small green candle with two small shadows. Shikou Span struggles to go over the candle line.



On the 4H ICHIMOKU graph, Tenkan Sen is at 3085 and Kijun Sen at 3052, giving support levels in the case of a retracement tomorrow.



On the 4H graph, I traced a rising wedge and I noted higher prices while fast stochachastics second top is lower than the first one, advocating for a retracement.

3085/87 (Tenkan sen/LoD) is a first support, 3050 (Kijun Sen and MA 23) is a second and stronger one.
On the resistance side, above HoD (3111) there is 3128 (former HoD) then 3177 (2014 top).

Have a nice trading day.

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  #8 (permalink)
VERSAILLES FRANCE
 
 
Posts: 553 since Jan 2013
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Market opened with a downard gap and after making a shy attempt to fill early morning, incentive Sellers took the lead and market dropped to 3063, which is to say MA 23 4H level, making there its LoD. After the US figures were released, reactive Buyers entered into the market and pushed it up, filling the gap at the end of the non-globex session, fixing at 3098. During the night session, some short covering happened and market closed at 3109.

At 3075, POC is lower than yesterday and value is concentrated between 3065 and 3090, giving the globex session a "d" shape.


The non-globex 1 day graphic shows a doji after four upward days, at BB level, with fast stochastics at top.
There is the risk of a double top at 3111.



On the globex 1 day graph, you can see that Shikou Span is still struggling to go above the candle line.



On the 4H ICHIMOKU graph, Kijun Sen at 3068 and Teakan Sen at 3087 are giving two seupport levels in the case of a retracement tomorrow.



On the 4H graph, I traced a rising channel with MA 23 being the supporting oblique.


3111 (Wednesday HoD) is a first resistance, then 3126, 3147 and 3164, former HoD and finally 3178, 2014 top.
On the support side, 3090 (top of Thursday value) is a first level then MA 23H and Kijun Sen (3068) and below LoD (3063). Further below there is 3024/26 (MA 44 4H and a former LoD).

The doji that can be seen on the non globex 1 day graph shall give a negative biais in my trading as long as prices are below 3099 mark.

I would not be surprised to see the market ranging tomorrow within 3060 - 3120.

TGIF.

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  #9 (permalink)
VERSAILLES FRANCE
 
 
Posts: 553 since Jan 2013
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Market opened with a small downard gap, filled it and shily explored whether lower prices would attract Sellers. At 3094 (LoD) reactive Buyers entered into the market and pushed the market up, back to opening level first and with the subsequent follow through upto 3126. Market then traded in a 3126-3104 range and ended at 3120.

At 3120, POC is much higher than Thursday and there is an HVN at POC level.



Result is a rather small green candle. Volume is on the low side.



On the 4H ICHIMOKU graph, Tenkan Sen (3107) and Kijun Sen (3080) are giving two support levels would the market retrace on Monday.



On the 4H graph, we can see that prices are still in the upward channel with MA 23 as supporting oblique..



On the weekly graph, we can see a green candle with a lower spike and much less volume than the previous candle. The upward move may soon loose its momentum but upper BB, at 3158, seems a logical target prior to an eventual downturn.

Weekly PP is at 3091. Prices ended higher on Friday evening, therefore R1, at 3160, is again a logical target.

I am therefore expecting the market to reach soon 3160. After reaching such mark an horizontal drift is the more likely pattern.

Would the market open below, 3127 is a first resistance, then R1 (3160) target and resistance at the same time.
As support I do see 3107 (Tenkan sen) then 3080/85 ( MA23 / Kijun Sen) and further below MA 44 at 3045.

Tomorrow the US are closed and I am therefore expecting a very quiet day.

Have a nice evening.

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  #10 (permalink)
Estonia
 
 
Posts: 14 since Nov 2010
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Delete all you'r indicators, they give you no advantage. Read the chart-tape, the highs and lows

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