Thursday, 18 February 2016

EURO STOXX 50 rallies clear of 2.5 month old down trend channel

So far I see no reason to doubt that the correction from the 2015 peak is finished, and a rally to above that level has begun, as the Elliott Wave labels suggest. That said, the 3000 level is strong potential resistance, and the bullish case must continue to prove itself, with a move through that level in coming weeks. Let's see.