EUROPEAN SHARES
Equities continued to climb in Europe on Thursday, extending the bullish sentiment set with the latest trading sessions in the US and Asia, as positive macro developments boosted investors’ appetite.
Strong earnings from French carmaker Renault and reassuring semantics over inflation from ECB President Christine Lagarde helped lift market sentiment towards riskier assets this morning.
The STOXX-50 index is trading close to its 4,750.0pts resistance, with all sectors in the green, following a sharp bounce back below 4,700.0pts.
Technically speaking, the market remains in the mid-term bullish trend that started in the second part of January. However, the bearish divergence between the market and the MACD indicator, combined with the bearish cross displayed by the Stochastic, warns of a trend slow-down to come.
Pierre Veyret – Technical analyst, ActivTrades
Source: ActivTrader
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