Index | Current price | Forecast | S1 | R1 | S2 | R2 |
FTSE100 | 7.292 | Cons./ Bullish | 7.220 | 7.330 | 6.980 | 7.405 |
FTSEMIB | 26.722 | Cons./ Bullish | 25.820 | 26.750 | 24.935 | 27.406 |
DAX 40 | 15.623 | Cons./ Bullish | 15.040 | 15.736 | 14.815 | 15.980 |
S&P 500 | 4.712 | Cons./ Bullish | 4.600 | 4.720 | 4.484 | 4.770 |
NASDAQ 100 | 16.332 | Cons./ Bullish | 15.700 | 16.620 | 15.180 | 16.770 |
DOW JONES | 35.971 | Cons./ Bullish | 35.455 | 36.000 | 34.800 | 36.300 |
S: Support R: Resistance
FTSE 100 (#UKX)
The FTSE 100 ended the week up + 1.83%
For the week ahead we expect a bullish continuation with a possible breakout of 7,330
Indicators
The strong bullish push of the first two days of last week is now seeing a gradual retracement to previous resistance areas: we believe that the index can retrace to 7,250 and then continue upwards.
MACD is gradually reversing to the upside and has now hinted at a breakout of 0: a positive sign of momentum recovery.
RSI, after breaking the bearish trendline, is now retracing slightly: a retracement between 45-50 could serve as support.
We are in favour of a short-term uptrend, with a slight retracement at the start of the week to support further upside.
Support for 7,220
Resistance at 7,320
FTSEMIB (#FTSEMIB)
The FTSEMIB had a week up by + 2.21%
For the week ahead we remain in favour of a bullish continuation at least till 27,200
Indicators
The strong upside reversal this week confirms the primary trend of the FTSEMIB: after the strong push, we believe that the index is now retracing to then continuing upwards.
At the beginning of the week, the index could "close the gap" to 26,500
MACD, still below 0, is gradually reversing upwards supported by the RSI which, after breaking the bearish trendline, is now fluctuating at 50
Support at 25,820
Resistance at 26,750
DAX (#DAX)
The DAX ended the week up + 2.19%
For the week ahead, we expect a consolidation between 15,400 and 15,500 to then continue higher
Indicators
After the bullish momentum, we believe that the DAX is now retracing to then continuing upwards: specifically, we expect a retracement that will “close the gap” formed on 6/12.
MACD is crossing to the upside and very close to breaking out of 0
RSI is now fluctuating at 50: exceeding it would support the bullish recovery of the index.
In the short term, we believe the DAX may still move higher with a target at 15,980
Support for 15.040
Resistance at 15,736
