Stocks had a mixed open in Europe on Tuesday
Stocks had a mixed open in Europe on Tuesday as market sentiment remained uncertain. Investors are awaiting a batch of significant macro data later today after the release of solid numbers from China. Even if inflation concerns have been played down by the Federal Reserve, investors will keep a close eye on the US CPI data release, due later in the afternoon. Corporate results and the US Treasury auction could also cause a volatility spike later today.
Most European benchmarks are now trading close to key support levels. A breakout of these levels could seriously dent the mid-term bullish trend.
Zurich is registering one the worst performances today as the SMI-20 index has come back inside the crucial 11,050.0pts/11,060.0pts zone, close to the bullish trendline and both exponential moving averages, where an acceleration could quickly drive prices towards 11,000.0pts and below.
Pierre Veyret– Technical analyst, ActivTrades
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