Next support is currently 33.55 points away at 4,264
The STOXX Europe 50 Index made an initial breakout above its 10 day Simple Moving Average at 4,305.41, a potential indicator of a newly emerging bullish phase.

Following 6 days of flat trade, Pointing in a similar direction, yesterday's session was more of the same — the STOXX Europe 50 Index recovered back to 4,297.68 after dipping down to 4,276.36, in a session that followed Wednesday's 4,292 close value.

The index has been trending positively for about 2 months. The STOXX Europe 50 Index hit a significant low of 3,279 around 8 months ago, but has since recovered 30.89%.

The STOXX Europe 50 Index's notable support and resistance levels: EuroSTOXX is approaching key support, around 33.55 points away from 4,264. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend and momentum analysis indicates that the STOXX Europe 50 Index made an initial breakout above its 10 day Simple Moving Average at 4,305.41, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, the STOXX Europe 50 Index's upper Bollinger Band® is at 4,369.74, suggesting that a downward move may follow.

Overall, technical indicators suggest the STOXX Europe 50 Index has no obvious direction for the immediate future.

Fundamental indicators – Euro Zone GDP came out at -0.1, marking no change from preceding figure.

While the STOXX Europe 50 Index was pretty flat yesterday, mixed performances were seen elsewhere as Nasdaq climbs 1.02% yesterday and closed at 13,100. Nikkei is down to 31,641, losing 258.73 points, after ending the previous session around 31,900. S&P 500 is trading around 4,294 after ending yesterday's session at 4,267.52 (up 0.62% today).

Upcoming fundamentals: Euro Zone ECB's De Guindos speech is scheduled for today at 08:00 UTC.