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Strong rising European stock exchanges in terms of long term

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It is evident that at some point we will attend corrections of a certain intensity, but the important thing is that the projection of the triangle's rise points to much higher levels.

Technical analysis
SYMMETRIC TRIANGLE
SYMMETRIC TRIANGLE

Short term

Medium term

Long term

For a little over a month we have talked on numerous occasions about the relevance of overcoming resistance in many of the European weight indices, such as the Euro Stoxx 50 and the STOXX Europe 600, among others. The Dax is not far behind because it is at the gates of historical highs. And, as can be seen in the monthly long-term chart, what we have in front of us is a clear triangle broken by its upper part, which in normal conditions should lead to significant bullish outcomes in terms of the medium and long term. This is not incompatible with the fact that the price could correct in the next days / weeks towards the new support area (before resistance) that confers the upper part of the triangle, in the environment of approx. 390 points That said, the really important thing is the ruptures of the resistances themselves, because we are talking about important and potential upward routes in terms of medium and long term for the whole of the bags of the Old Continent.

STOXX Europe 600 monthly chart since 1994

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