ActivTrades’ Market Analysts have prepared for LeapRate their daily commentary on traditional markets for November 29, 2019. This is not a trading advice. See details below:
EUROPEAN SHARES
European shares are extending Thursday’s decline, alongside US Futures, in this last trading session of the month. We are seeing thinner volumes than usual on stocks as most US traders are still away from their desks after Thanksgiving. In Europe, a “wait and see” pattern is being observed as market sentiment keeps weakening.
Many investors await more significant progress towards a US-China trade deal before making the next move as the next round of US tariffs looms (15-Dec).
Elsewhere, the EU CPI report later today will be scrutinized by investors looking for more clues on the state of the economy of the euro zone and on the ECB’s next monetary policy move.
Even if a solid rebound took place over the 3,690.0pts support level on the Stoxx-50 index, the market remains well capped by the 3,700.0pts zone so far. A clearing of this level would open a new bullish potential for prices to go up to 3,704.0pts, 3,713.0pts and 3,720.0pts by extension.
Pierre Veyret– Technical analyst, ActivTrades