European stocks closed with strong gains

Since the beginning of the month, European stocks closed significantly elevated and pinned the best performance, despite opening in red on Tuesday.

The British FTSE 100 was up with 1.35% to 6219.26 points, the French CAC 40 leaped 2.46% to 4431.52 points and Euro Stoxx 50 jumped 2.76% to 3013.84 points. Best performed the Italian FTSE MIB with a growth of 3.34% to 17,903.97 points.

Germany’s  DAX climbed 2.33% to finish at 10,057.94 points and marked one-week high at 10,077.50

Technically speaking the index failed to break resistance at 11400 points and now gravitates within the range 9300-11400. Next resistance on upwards is the psychological level at 11700, where it is not excluded a false breakout. Even bulls are seen in a sluggish pace now, the uptrend is still in place. Eventual downward correction would lead the price to support levels located at 10000, 9300 and 8900.