{"id":12474,"date":"2012-07-16T14:00:00","date_gmt":"2012-07-16T14:00:00","guid":{"rendered":"http:\/\/starthostunlimiteddmffassi-ss.stackstaging.com\/etfworld.ch\/home\/vl27cm72\/etfworld.ch\/wp\/index.php\/2012\/07\/16\/technical-analysis-stoxx-europe-600-oil-a-gas-index-bullish-reversal\/"},"modified":"2019-07-25T15:28:31","modified_gmt":"2019-07-25T13:28:31","slug":"technical-analysis-stoxx-europe-600-oil-a-gas-index-bullish-reversal","status":"publish","type":"post","link":"https:\/\/www.etfworld.com\/ch\/technical-analysis-stoxx-europe-600-oil-a-gas-index-bullish-reversal\/","title":{"rendered":"Technical Analysis: Stoxx Europe 600 Oil & Gas index : Bullish reversal"},"content":{"rendered":"

Technical Commentary :
\n<\/strong>The Stoxx Europe 600 Oil & Gas index is composed of the 33 most traded companies among the European Energy sector….<\/span>..<\/p>\n

<\/p>\n

\n

Day By Day – Indipendent Research<\/p>\n

\n
This index has been evolving sideways within a large range (260-360 points) for more than two years. No medium-term trend can be identified within this configuration, and as long as prices stay confined in it, it will be difficult to adopt any clear-cut opinion. We are thus neutral for the weeks to come.<\/div>\n
\"16072012\"<\/a><\/div>\n

Anticipation\u00a0 : <\/strong><\/p>\n

On the short-term side, the index presents a bullish dynamic since the validation of a reverse head & shoulders reversal pattern, formed above the 294.80 points major support. After testing the signal quality (pull-back on 324.60 points) prices are now resuming their bullish trend. The reversal pattern should thus generate a sound bullish move toward 342.40 then 352.50 points.
\nWe are positive in the short term and we set the invalidation level of this scenario slightly below the 324.60 support, last rebound level.<\/div>\n
\u00a0<\/strong><\/div>\n\n\n\n\n\n\n\n\n\n\n
Close price<\/td>\n333.48<\/td>\n<\/tr>\n
\n
\n<\/td>\n<\/tr>\n
2 months Opinion<\/td>\nBULLISH<\/td>\n<\/tr>\n
2 weeks Opinion<\/td>\nPOSITIVE<\/td>\n<\/tr>\n
\n
\n<\/td>\n<\/tr>\n
Resistances<\/td>\n342,4 \/ 352,5 pts<\/td>\n<\/tr>\n
Supports<\/td>\n324,6 \/ 304,5 pts<\/td>\n<\/tr>\n
\n
\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\n

Follow-up Analysys:<\/strong> On July 9th, we recommanded the purchase of the EuroMTS 5-7 years index. Since then, prices have kept progressing and are now approaching our target at 183.90 points.<\/p>\n

\n

\u00a0<\/strong>\u00a0<\/strong>DISCLAIMER<\/strong><\/p>\n

This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext\u2019s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext\u00ae, trackers\u00ae, are registered marks of NYSE Euronext.<\/p>\n

Source: ETFWorld – Day By Day – Indipendent Research<\/p>\n

\n","protected":false},"excerpt":{"rendered":"

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