Financial index | Current price | Forecast | S1 | R1 | S2 | R2 |
​FTSE100 | 7,314 | Cons./ Bullish | 7,300 | 7,700 | 7,100 | 7,900 |
FTSEMIB | 25,495 | Consolidation | 24,800 | 27,900 | 24,000 | 28,400 |
DAX 40 | 14,768 | Cons./ Bearish | 13,800 | 15,800 | 13,400 | 16,200 |
S&P 500 | 3,916 | Consolidation | 3,750 | 4,200 | 3,600 | 4,300 |
NASDAQ 100 | 12,520 | Consolidation | 11,000 | 12,700 | 10,500 | 13,300 |
DOW JONES | 31,861 | Consolidation | 31,200 | 34,500 | 30,200 | 35,000 |
TADAWUL | 9,976 | Cons./ Bullish | 10,000 | 11,200 | 9,700 | 11,700 |
FTSE ADX | 9,650 | Cons./ Bullish | 9,680 | 10,300 | 9,680 | 11,000 |
DFM | 3,349 | Consolidation | 3,270 | 3,500 | 3,100 | 3,730 |
S: Support R: Resistance
FTSE 100 (#UKX)
The FTSE100 index had a week down by -5.33%
For the week ahead we are in favour of a possible recovery till 7,500
Indicators
Negative week for the British index that finally retrace to more traded levels. The 7,300 is an important support area that could lead to short term bounces.
MACD e RSI are very extended to the downside with the second one in oversold condition
Looking at previous swings, the index could also consolidate on the 7,200 area to then revert to the upside.
The risk/reward has now shifted towards more interesting levels and we start to consider long positions (assuming 7,100 as ultimate support)
We are neutral on the FTSE 100 with a bias towards upside potential
Support at 7,300
Resistance at 7,700
FTSEMIB (#FTSEMIB)
The FTSEMIB index had a week down by -6.55%
We are in favour of a possible consolidation within the 26,000 area.
Indicators
Negative week for the Italian index that is now retracing on a strong support level that precisely opened the way to the January bullish rally.