Today, European stock indices are trading in the green zone. The markets are reassured by the information that the Spanish authorities are planning to publish their salvation plan.
The Financial Times reports that Luis de Guindos Jurado, Minister of Economy and Competitiveness of Spain , has started talks with the European Commission on financial support, which may be provided on September 27th, 2012.
The current state of affairs looks as follows:
· Stoxx Europe 600: +0,4% up to 275,61.
· Euro Stoxx 50: +0,37% up to 2562,50.
· FTSE 100: +0,39% up to 5877,54.
· CAC 40: +0,37% up to 3522,91.
· DAX: +0,18% up to 7402,86.
The chart below, courtesy of , reflects the current state of affairs in the market of FTSE 100. The price has probably finished forming wave 4. The closest level of support is 5822. If the supposition is right, today we will see the price building wave 5. The closest level of resistance is 5933.
