European Equity Indices Summary for Jun 15, 2020
Major European Indices Technical Analysis Market Overview Report for Jun 15, 2020 | 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 -0.66% and CAC closing -0.49% lower. On the flipside the best performers have been BEL20 closing 1.3% higher and TECDAX gaining 0.36%.
One of today's most interesting market conditions in the Major European Indices showed up in DAX: Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "6 Consecutive Lower Closes" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for DAX. Out of 14 times, DAX closed higher 57.14% 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 71.43% with an average market move of 1.41%. Read more