Europe Is The Energy Sucker—But Is Fear Overshooting?

Soggy Stoxx

SX5E has traded heavy for the past few weeks, but yesterday’s hammer-like candle formed right at the huge 6200 support in futures. This is the big make-or-break level, with the 100-day MA also coming in here and RSI in oversold territory.

We outlined our bearish Europe trading logic a while ago. That has played out well, and we would not get greedy down here.