The index clocked a high of 2193.4, which is just short of the record high of 2193.8.
Rising trend line drawn from Feb low and March low is seen halting the rise. Rejection at trend line followed by a break below 2160 would signal correction
Dax is going to face 10500 until the end of this week, probably during the first part of it. The bearish movement could begin from 10700. The Equity is extremely short from this levels and with this weekly pattern
Long UA! It was sold off hard the past 3 earnings and its pretty attractive at this price point. I personally own 500 shares @$31 for a long term hold :)
Usually does well during winters with exception of inventory management problems last year due to abnormally warm winter, see green circle! Predicting a blue circle this time instead!
MACD on weekly turning +...
As it is not a good time to trade currency nor the bonds (fixed income trading) due to the high uncertainty in the market, I thought I will update an equity opportunity for you all. To be said that I AM NOT GOING TO trade this only and only because I am not an equity trader.
Anyway, the main point is that I am sure most of you have heard about the...
The FTSE 100 index has failed yet again to hold above 6800 levels, which suggest the prices could break below this week’s low of 6735 and head towards the head and shoulder neckline seen today around 6685 levels.
On the higher side, only a daily close above 6800 would open doors for a more sustained rise to 7K levels.
Vodafone shares have breached a long-term rising trend line. We are still away from November close. Prices could drop to 150 area over Q1, 2017 if the monthly candle does confirm a bearish break.
The monthly MACD also shows the bearish momentum is gathering pace, while the RSI too has slipped below 50.00 levels.
I believe it is time fro SPX500 to correct after a huge bounce. In my opinion we are living a Wave 1 in a bigger 3 in a bigger 5. So, bulls no need to worry: this is only a small step back before a huge advance.
My TP1 would be 2100 and TP2 at 2070. SL: 2210
The weekly chart clearly shows a bullish price-RSI divergence. Hence, the dip demand is likely so long as the prices stay above the July low of 973.
A minor retreat cannot be ruled out as the daily indicators show bullish exhaustion.
MACD, though below zero, shows the momentum has stalled. A day end close below the rising trend line would open doors for a further sell-off to 1277 (August lows).
It is advisable to be on a 'wait and watch' mode.
On the higher side, only a daily close above 1450 would signal a possible revisit to recent highs around 1550.
Failure to hold above 6800 levels for the three consecutive sessions coupled with the Wednesday’s weak close at 6749 suggests the bears are likely to push the prices down to the head and shoulder neckline support of 6680.
On the higher side, only a daily close above 6800 would signal a possible revisit to 7K levels.