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From : International Equity Index Daily Hotline: 27 May 2016
Chart of the day: SMI cracks the Apr ceiling

 

The Swiss SMI is the first European stock market index on the Focus List to move beyond the April barrier, which was plotted at 8210.93 in this case.  At the time of writing, the SMI is trading at 8294.99 to probe potential resistance at the 200-day Moving Average.  The next targets are at the early-February peak at 8381.13 and mid-January high at 8487.61.  We would point out that the RSI is on the high side, indicating the onset of an overbought state.

 

 






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