European Equity Indices Summary for Oct 09, 2019
Major European Indices Technical Analysis Market Overview Report for Oct 09, 2019 | by Techniquant Editorial Team
With six out of the six Major European Indices closing higher today, the ones that stand out on the positive side are TECDAX gaining 1.28% and DAX closing 1.04% higher. None of the markets ended the day in the red.
One of today's most interesting market conditions in the Major European Indices showed up in TECDAX: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Price broke through Technical Resistance R1" stand out. Its common bullish interpretation has been confirmed for TecDAX. Out of 313 times, TECDAX closed higher 59.74% 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 64.22% with an average market move of 0.65%. Read more