European Equity Indices Summary for Dec 03, 2019
Major European Indices Technical Analysis Market Overview Report for Dec 03, 2019 | by Techniquant Editorial Team
With four out of the six Major European Indices closing lower today, the ones that stand out on the negative side are FTSE losing -1.74% and CAC closing -1.03% lower. On the flipside the best performers have been TECDAX closing 0.44% higher and DAX gaining 0.19%.
One of today's most interesting market conditions in the Major European Indices showed up in BEL20: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close below the lower Bollinger Band" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for BEL 20. Out of 153 times, BEL20 closed higher 52.94% 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 61.44% with an average market move of 1.22%. Read more