European Equity Indices Summary for May 15, 2019
Major European Indices Technical Analysis Market Overview Report for May 15, 2019 | by Techniquant Editorial Team
With five out of the six Major European Indices closing higher today, the ones that stand out on the positive side are DAX gaining 0.9% and FTSE closing 0.77% higher. On the flipside the worst performer has been BEL20 closing -0.04% lower.
One of today's most interesting market conditions in the Major European Indices showed up in CAC: Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bounced off Technical Support S1" stand out. Its common bullish interpretation has been confirmed for CAC 40. Out of 425 times, CAC closed higher 57.18% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 61.18% with an average market move of 0.51%. Read more