European stock indices are trading in the green zone in advance of another ECB meeting. The Bank of England is going to hold a meeting as well.
As of the first minutes of today’s European trading session, the situation looks as follows:
· FTSE 100: +0,2% up to 5839,73
· DAX 30: +0,6% up to 7368
· CAC 40: +0,4% up to 3420,60
Yesterday, European markets were multidirectional . The major risk the current economic and political situation in Spain . The country is in crisis but it is still unclear whether the Spanish government will ask for external financial aid in the near future.
The chart below, courtesy of , reflects the current state of affairs in the market of FTSE 100: The index is currently trading below 5843. If the price fails to break and consolidate above it, we may see it retracing. If there is a break, the upswing will most likely take the form of wave [iii] or [c].
