Financial index | Current price | Forecast | S1 | R1 | S2 | R2 |
FTSE100 | 7,748 | Cons./ Bearish | 7,400 | 8,050 | 7,200 | 8,160 |
FTSEMIB | 27,281 | Cons./ Bearish | 24,800 | 27,900 | 24,000 | 28,400 |
DAX 40 | 15,427 | Cons./ Bearish | 13,800 | 15,800 | 13,400 | 16,200 |
S&P 500 | 3,861 | Consolidation | 3,750 | 4,200 | 3,600 | 4,300 |
NASDAQ 100 | 11,830 | Consolidation | 11,000 | 12,700 | 10,500 | 13,300 |
DOW JONES | 31,909 | Consolidation | 31,200 | 34,500 | 30,200 | 35,000 |
TADAWUL | 10,431 | Consolidation | 10,000 | 11,200 | 9,700 | 11,700 |
FTSE ADX | 9,827 | Consolidation | 9,680 | 10,300 | 9,680 | 11,000 |
DFM | 3,385 | Consolidation | 3,270 | 3,500 | 3,100 | 3,730 |
S: Support R: Resistance
FTSE 100 (#UKX)
The FTSE100 index had a week down by -2.50%
For the week ahead we are in favour of a possible consolidation in the 7,600 area
Indicators
Negative week for the British index as it’s finally breaks the tight trading range in the 7,900 area.
A high volume concentration area can be seen at 7,600 which we believe could act as short term bearish target: if also that one is overcome, we will look at7,500 - 7,400 as reversal area.
MACD e RSI turned heavily to the downside and we will soon have RSI in oversold conditions.
We are now looking for a consolidation in the 7,500 - 7,550 area before considering long setups: in addition, the 200MA often plays as dynamic support during important drawdown.
We remain bearish on the FTSE 100 as we believe the full scale sell-off has not yet been reached
Support at 7,400
Resistance at 8,050
FTSEMIB (#FTSEMIB)
The FTSEMIB index had a week down by -1.95%
We are in favour of a possible bearish continuation until the 26,000 area.
Indicators
Negative week for the Italian index that could open the way to more relevant selling price action. Once the 27,000 is broken the nearest target remain the one of 26,000