The stock market will also have its eyes on Hong Kong and China. Indeed, Donald Trump will hold a press conference today on his relations with Beijing.
The Euro Stoxx 50, a benchmark comprising many of Europe’s largest publicly traded companies, is slightly down this morning thanks to a bearish gap below a short term rising trend line. Prices are nearing the rising 20-simple moving average. The Relative Strength Index (RSI, 14) on a 60 minute chart is posting a bearish divergence, calling for a down move.
As long as 3105 is resistance, consolidation expected towards 3010 and 2945 (overlap). Alternatively, a push above 3105 would call for a further rise towards 3185 (100DMA).
Source: GAIN Capital, TradingView