Challenge to multi-year Overhead supply, run by non-commercial traders.
According to many colleagues usually, this behavior encourages retailers to take the trade but in reality fails as it is run late.
Therefore, I personally think that at some point European banks as a whole are to outperform.
Some are yet punished, Overhead Supply zones take time to pierce, usually, prices stall in the bottom of the OS area, and suddenly open/raise above area, retesting and now becoming support zone.
Personally, I don't see further reasons to pray for disaster, but long-term support is around €7.50.
Short $EDF à 9,18 € hier 16/02 pour IVT - cassure d'un triangle d'indécision sur les droites marrons avec objectifs TP1 support de la droite TP2 support suivant de la droite et la base de la figure TP3 la hauteur de la figure reportée sur le point de cassure. On peut voir aussi une vague de wolfe avec objectif sur la transversale rose. Une FA à notée en mensuel...
A negative pattern was formed on the weekly graph from October 15 to October 16, which led to a downward slope in the price. This price broke the upward sloping support line giving room to further drops in the price level. I would look for this to continue falling to the long-term support line around 36.5 (around fib 0.5). Unilever have come under pressure...