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Daily market commentary: Stock benchmarks are gaining back some ground that was lost in the last two weeks

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This will keep the markets under pressure until the next earning season. It makes the short-term and mid-term stock outlook difficult to gauge. That said, a bullish leverage from China may provide a boost towards equities this week after Beijing abandoned its “Covid Zero” policy and pledged more growth in 2023.

STOXX-50 is trading above 3,800pts. However, it remains below its first available resistance of 3850.0pts. The bearish pressure continues to drive the market despite’s today’s correction, and the next support remains over 3,735pts, 3,676pts and 3,645pts by extension.

Pierre Veyret– Technical analyst, ActivTrades


Disclaimer: These opinions are solely the author’s and do not necessarily reflect those of LeapRate. This is not intended to be a trading recommendation.

LeapRate first published the post Daily market commentary: Stock benchmarks recovering some ground from the past two weeks



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