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Analysis: Swiss stock market in sell-off - long-term support line broken, downward correction likely.
Last week, the Swiss leading index fell massively and gave up an important long-term support line. The red EMA200 on a weekly basis no longer holds. The big picture chart of the SMI shows a downward correction and a possible further downward movement towards 9,500 points is forecast. For financial experts, this means that the Swiss stock market is currently very volatile and uncertain. Investing in the market should therefore be approached with caution. It might be advisable to monitor the development of the market for a few more days or to take a small test position first.
Analysis: Swiss stock market in sell-off - long-term support line broken, downward correction likely.
Last week, the Swiss leading index fell massively and gave up an important long-term support line. The red EMA200 on a weekly basis no longer holds. The big picture chart of the SMI shows a downward correction and a possible further downward movement towards 9,500 points is forecast. For financial experts, this means that the Swiss stock market is currently very volatile and uncertain. Investing in the market should therefore be approached with caution. It might be advisable to monitor the development of the market for a few more days or to take a small test position first.
Read the source article at stock3.com