Euro Stoxx 50 has the 4200 mark in its crosshairs – Commerzbank
|The Euro Stoxx 50 has moved out of its sideways pendulum movement of nearly six years below 3830 to 3870 points with a higher-level buy signal in recent weeks – pointing at a technical price target of 4200 points for 2021, economists at Commerzbank appraise.
Leap above multi-year resistance zone
“Since the Corona sell-off, the index has again been in a bull market movement, which first led it up to the six-year resistance zone.”
“In April 2021, the Euro Stoxx 50 then started moving with an investment buy signal (jump over the resistance zone), resuming its technical bull market cycle.”
“The technical price target for H2 2021 is 4200.”
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