Technical Analysis Newsletter Monday, March 14, 2016
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EUROPEAN MARKET OUTLOOK: Further advance is expected on equity indices

As far as the Estoxx 50 (Mar 16) is concerned, currently @ 3081, the intraday view is bullish above 3045. Prices remain stuck within a volatile lateral consolidation move between 2945 and 3130. Narrowing Bollinger bands illustrate the decrease in volatility and since the index is close the lower Bollinger bands, a rebound is expected. As long as 3045 is support, the bias remains bullish towards 3130 (swing high) and even slightly above at 3150. Alternatively, a break below 3045 would call for a limited consolidation towards 3015 (upper end of the gap) and even 2975 (gap)



As far as the FTSE 100 (Mar 16) is concerned, currently @ 6142, the intraday view is bullish. The flattening moving averages call for a flat consolidation above 6090 ahead of further advance. As long as 6090 is not penetrated, the upside prevails towards 6210 and 6230. Alternatively, a break below 6090 would call for a retest of the support level at 6039 (intermediary) and 6000 (swing low and psychological level).




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