European stock indices are trading in the red zone today because of some disputes between President Obama and the US Congress.
Last week the president promised to resolve the ‘fiscal cliff” issue until Christmas. However, the current new round of talks shows the opposite. The Democrats and the Republicans still cannot compromise, which affects financial markets around the globe.
FTSE 100: потерял 0,3% down to 5856,94.
CAC 40: no major changes so far - 3569,56.
DAX 30: - 0,09% down to 7428,45.
The chart below, courtesy of , reflects the current state of affairs in the market of EURO STOXX 50.
The index has already reached the mid-term level of resistance located at 2605. The price is probably forming another (3rd) upswing. The price is expected to retrace in the form of wave [ii]. The critical level of support is 2517.
