European Stocks Are At A Critical Technical Support Level

Via Dana Lyons' Tumblr,

Several key equity trendline tests are underway across the European region.

The past few editions of our #TrendlineWednesday feature on Twitter have not exactly been the most intriguing we’ve ever posted. In fact, it has been a challenge at times recently to even find enough candidates to publish the feature. This week, however, is a different story. Compelling trendline developments abound in the financial markets – with no area sporting more critical trendline tests than the European equity markets. Here is a sample of some of those key tests underway.

The STOXX Europe 600 Index is testing its post-2009 Up trendline…again.

The German DAX is also testing its post-2009 Up trendline…again.

And the French CAC-40 is testing its post-Brexit Up trendline.

Each of these developments is worthy of its own dedicated blog post. The fact that we are observing coordinated trendline tests across those key markets tells us that this is potentially a key juncture. So is this another buying opportunity – or have these markets worn out the support of their respective trendlines?

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