June 4th was the beginning of a steep bull trend after the US markets correction of 10% downside. The main reason is the willingness of the Federal reserve bank to lower their interest rate. Last trading week can be summarized by a consolidation between levels 7600.00 and 7425.00, eventually announcing a strong volatility next week. Since we are in a bull run, odds of a continuation remain medium/high.
Possible targets : @7600.00 (+1000pips or 100points) and @7860 (+3500pips or 350points).
Advice : Stay bullish and buy at any low point while we don't break the 7425.00 bottom level.
Correlated pairs : US500 (96.2%),US30 (94.2%),CHFSGS (-86.5%).
We are more likely to experience a resumption of the bull spike as it will be for the other US market securities and confirmed by the clue that CHFSGS has shown to have tested a resistance zone and begun a bear run.
Possible targets : @7600.00 (+1000pips or 100points) and @7860 (+3500pips or 350points).
Advice : Stay bullish and buy at any low point while we don't break the 7425.00 bottom level.
Correlated pairs : US500 (96.2%),US30 (94.2%),CHFSGS (-86.5%).
We are more likely to experience a resumption of the bull spike as it will be for the other US market securities and confirmed by the clue that CHFSGS has shown to have tested a resistance zone and begun a bear run.
Trade closed: target reached:
All the targets where reached. US market settled on the resistance zone. Odds of a reversal are high, however buyers are still present.