Euronext PSI20 (PSI20.NDX)

Short term

Euronext PSI20 has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The index is between support at points 6290 and resistance at points 6360. A definitive break through of one of these levels predicts the new direction. The index is assessed as technically slightly negative for the short term.

Recommendation one to six weeks: Weak Negative

Medium term

Euronext PSI20 has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The index is moving within a rectangle formation between support at 6240 and resistance at 6729. A decisive break through one of these levels indicates the new direction for the index. The index gave a negative signal from the rectangle formation by the break down through the support at 6398. Further fall to 6001 or lower is signaled. The index has support at points 6230 and resistance at points 6460. The index is overall assessed as technically negative for the medium long term.

Recommendation one to six months: Negative

Long term

Euronext PSI20 has broken the floor of the rising trend channel in the long term, which indicates a weaker initial rising rate. The index gave a negative signal from the rectangle formation by the break down through the support at 6398. Further fall to 6001 or lower is signaled. The index is testing support at points 6300. This could give a positive reaction, but a downward breakthrough of points 6300 means a negative signal. The index is overall assessed as technically neutral for the long term.

Recommendation one to six quarters: Hold