In today's technical outlook in European indices, we look at the Stoxx Pan European Banks Index, Stoxx Euroland Banks Index, Stoxx 600 and the FTSE 100, with Geoff Wilkinson, Associate for Linear Investments. Speaking to Tip TV, Wilkinson highlights the inverted head and shoulder formation in the Stoxx 600, with the index trading near the neckline of the formation, and indicative of further upside.
With the UK market equity index seeing fresh 2016 highs, Wilkinson notes that the charts are supportive of a bullish move provided the FTSE can move back above the October/November highs, with 6450 remaining a very key level. Wilkinson also notes that falling below 6200 will negate the bullish argument.
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