Financial index | Current price | Forecast | S1 | R1 | S2 | R2 |
​FTSE100 | 7,476 | Bearish | 7,200 | 7,600 | 7,100 | 7,670 |
FTSEMIB | 24,277 | Bearish | 22,500 | 24,850 | 21,000 | 25,500 |
DAX 40 | 14,370 | Bearish | 13,100 | 14,550 | 12,650 | 15,000 |
S&P 500 | 3,934 | Cons./ Bearish | 3,750 | 4,100 | 3,600 | 4,180 |
NASDAQ 100 | 11,563 | Consolidation | 10,400 | 12,000 | 10,000 | 12,700 |
DOW JONES | 33,476 | Cons./ Bearish | 31,200 | 34,500 | 30,200 | 35,000 |
TADAWUL | 10,246 | Cons./ Bullish | 10,000 | 11,200 | 9,700 | 11,700 |
FTSE ADX | 10,251 | Consolidation | 9,900 | 10,750 | 9,680 | 11,000 |
DFM | 3,325 | Cons./ Bullish | 3,270 | 3,500 | 3,100 | 3,730 |
S: Support R: Resistance
FTSE 100 (#UKX)
The FTSE100 index had a week down by -1.05%
For the week ahead we are in favour of a retracement to the 7,400 area
Indicators
Negative week for the British index, as it almost seems to want to repeat the August's setup.
The price finally broke below the 9-day average (red line) which has been a strong dynamic resistance since October.
We believe this break is important, especially after a long upside phase: we could expect a short back-test of the 9MA and then, in our opinion, begin a downward phase.
MACD and RSI have started an initial reversal and mirror price action.
We are bearish on the FTSE 100 as we believe risk/reward is still in favour of further downsides: short-term target remains the 50-day average (yellow line), today at 7,200.
Support at 7,150
Resistance at 7,600
FTSEMIB (#FTSEMIB)
The FTSEMIB index had a week down by -1.40%
For the week ahead we in favour of a retracement to the 23,700-23,500 area
Indicators
Negative week for the Italian index which saw the break of the