The Parisian index rose slightly during the session on Thursday after gapping lower. However, we found the €5220 level to be far too resistive to continue
The Parisian index rose slightly during the session on Thursday after gapping lower. However, we found the €5220 level to be far too resistive to continue to go higher. I doing so, we pulled back to form a shooting star which of course is a bearish sign. We think this simply signifies of the market is going to pull back a little bit to build up enough momentum to continue the uptrend. We have no interest whatsoever in selling, and as a result remain bullish of this particular market. We think European stocks in general still offer value.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
