The chart is at the edge between continuing the uptrend channel which started after the correction in late August - to a new all time high - or resuming to the big crash scenario which also started in August.2015.
The chart looks bearish to me, given for example that the MACD is rolling over to a bearish trend today. But until the market makes a real decision this week I sit on my hands. If ECB head Mario Draghi officially announces on Thursday more European-QE, we get a new rally. If he doesn't we get a new correction. That's my idea. Here is a NewYorkTimes article from today:
European Central Bank May Surprise With Size of New Stimulus (December 01, 2015)
nytimes.com/aponline/2015/12/01/world/europe/ap-eu-europe-economy.html
The chart looks bearish to me, given for example that the MACD is rolling over to a bearish trend today. But until the market makes a real decision this week I sit on my hands. If ECB head Mario Draghi officially announces on Thursday more European-QE, we get a new rally. If he doesn't we get a new correction. That's my idea. Here is a NewYorkTimes article from today:
European Central Bank May Surprise With Size of New Stimulus (December 01, 2015)
nytimes.com/aponline/2015/12/01/world/europe/ap-eu-europe-economy.html
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.