While it is true that in the very short term we have the US indices just around the corner, what is really important is that the price has managed to rebound, with the utmost precision, from the previous all-time highs: the highs prior to the pandemic, in his day resistance. Movement that in no way deteriorates in the least what is the background (or primary) upward trend of the index.
The index that includes the evolution of the main banks of the Old Continent has respected, apart from punctual expansions, the important support that it has in the lows of March. Then, to the extent that the 72-73 points hold, a movement towards the resistance of 95 points should be considered as the most likely scenario. And above the annual maximums at 117 points.
Experience has shown me that the weekly average of 200 observations usually works very well as a long-term support level. It has been doing so as a support for the last decade and there is no reason to believe that this time it will be any different. Therefore, corrections aside, it can be said that the long-term moving average has given a buy signal again at the lows of June.
