European Equity Indices Summary for Jul 17, 2019
Major European Indices Technical Analysis Market Overview Report for Jul 17, 2019 | by Techniquant Editorial Team
With six out of the six Major European Indices closing lower today, the ones that stand out on the negative side are CAC losing -0.76% and DAX closing -0.72% lower. None of the markets managed to end the day in the green.
One of today's most interesting market conditions in the Major European Indices showed up in N100: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to prior High" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Euronext. Out of 583 times, N100 closed higher 54.55% 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 57.63% with an average market move of 0.22%. Read more