Recent weakness in the European Financials ETF (EUFN) was punctuated by today's (Thursday's) gap down and close below the 50 day MA, as shown on the following 1-year Daily chart.
All 3 technical indicators have also dropped below their respective mid-point...signalling potential further weakness ahead. Major support sits around 23.50 to 24.50. Failure (drop and hold) below 23.50 could spark a major sell-off in European stocks...one to watch in the weeks ahead...particularly as the next ECB meeting approaches on June 5th.
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