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.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
