Stock Indices see green in today’s European session – but will it hold?
Green on the boards, a nice change after last week’s sea of red.
Today’s European stock indices have started the week in the green after what really was a troublesome week in the red. With Indices dropping over 10%, we look towards the beginning of a counter-rally.
At this stage, most European indices are trading higher but the FTSE MIB remains to be over 1% lower. The FTSE led the charge trading over 2% higher, earlier in the session. Currently, that lead has been cut to 1.39% as sellers have moved in aggressively in the current hour.
We can see the current fade clearly on the GER30 1-hour chart.
Analysis video, we run over the recovery rally on stocks and look at some of the major currency pairs. Gold and Oil have also bounced back tonight but the question remains to be, will this Gold and Oil rally hold out? Could a positive U.S. session extend the current buying or could we see it fade and continue the current pressure that’s being applied? U.S. session key news to come; ISM Manufacturing PMI.