Financial index | Current price | Forecast | S1 | R1 | S2 | R2 |
​FTSE100 | 7.234 | Consolidation | 7.220 | 7.285 | 7.165 | 7.400 |
FTSEMIB | 26.489 | Consolidation | 26.184 | 26.750 | 25.554 | 27.370 |
DAX 40 | 15.587 | Consolidation | 15.306 | 15.736 | 14.967 | 15.980 |
S&P 500 | 4.471 | Consolidation | 4.390 | 4.468 | 4.286 | 4.545 |
NASDAQ 100 | 15.147 | Consolidation | 14.775 | 15.152 | 14.552 | 15.702 |
DOW JONES | 35.295 | Consolidation | 35.096 | 35.455 | 34.261 | 36.137 |
S: Support R: Resistance
FTSE 100 (#UKX)
The FTSE 100 ended the week up + 1.92%
For the week we expect a consolidation between 7,165 and 7,220
Indicators
The positive performance led the FTSE to the top of the parallel channel started in May 2021.
For the coming week we expect a slight retracement to the previous resistance level at 7,165 and then eventually move higher.
MACD crossed the 0 line confirming the momentum change (now upward) of the index.
RSI has reached a resistance area that could support the idea of a retracement: this would lead the index to consolidate and avoid overbought situations.
In addition, the distance from the 50MA could also support a retracement and consolidation.
The trend is bullish and a possible back-test at 7,165 would confirm this
Support for 7,220
Resistance at 7,285
FTSEMIB (#FTSEMIB)
The FTSEMIB had a week up + 1.84%
For the week we could see a consolidation between 26,600 and 26,184.
Indicators
The index has completed the ascending triangle that had been forming in the previous weeks.
For the week ahead, also given Friday's indecision candle, we could expect a slight retracement to the previous resistance area at 26.184 to eventually continue to the upside.
MACD, after crossing to the upside, is breaking above the 0 level confirming the change in momentum.
RSI is now at 60, a resistance level that has been respected few times.
A slight retracement would avoid overbought situations and make the bullish more natural.
Support for 26.184
Resistance at 26,750
DAX (#DAX)
The DAX ended the week up + 2.94%
For the week ahead, we expect consolidation between 15,450 and 15,600
Indicators
The German index managed to break the bearish trendline that started on September 6, 2021.
For the week we could expect a slight retracement to the intermediate resistance at 15,400-15,450 and then continue to the upside.
The MACD, despite an upward crossover, is still below 0 confirming a "bearish" momentum.
The RSI has almost reached the level of 60, a resistance that has been repeatedly respected in recent months.
In addition, the index closed just below the 50MA on Friday. This could lead to a consolidation in the below MA area and then break to the upside till 15,980
Support at 15,306
Resistance at 15,736
S&P500 (