Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed and emerging markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features a review on European equity benchmark highlighted in the review section from the Global Equity Markets report. Also you will find a chart setup developing on HEDJ Europe Equity ETF.

The benchmark for European equity markets, EuroStoxx 600 Index found support at 366 levels for the 3rd time over the past year. The index is consolidating between 366 and 400 levels. Sharp sell-offs towards support area were met with similar strong weekly reversals. The long-term uptrend will remain intact as long as the index holds above the strong support at 366 levels.

Previous Global Equity Markets reports featured the Europe Hedged Equity ETF (HEDJ.K) that is listed on the New York Stock Exchange. The ETF is possibly forming a 9 month-long rectangle with the lower boundary acting as support at 60.7 levels and the upper boundary at 67 levels as resistance.

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