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Euro STOXX 50 – Long on trend, after breakthrough and test of a flag for increase

EU50 D1 Our expectations:

Long term trend – long, Activation and test of a flag for increase. The current price is good for building long-term longevity.

Indicators:
Price above 50 and 200SMA, MAs stacked in bull formation.
RSI over 50, confirms that the upward trend is still in place.

SL: 3410.

Alternative Scenario: Breakthrough 3410 would mean a break of 50 SMA and a new bottom, forming a new short-term downward trend.


 Trader Georgi Bozhidarov


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