Financial index | Current price | Forecast | S1 | R1 | S2 | R2 |
​FTSE100 | 7,496 | Cons./ Bearish | 7,200 | 7,600 | 7,100 | 7,670 |
FTSEMIB | 23,665 | Consolidation | 22,500 | 24,850 | 21,000 | 25,500 |
DAX 40 | 13,857 | Consolidation | 13,100 | 14,550 | 12,650 | 15,000 |
S&P 500 | 3,839 | Cons./ Bullish | 3,750 | 4,100 | 3,600 | 4,180 |
NASDAQ 100 | 10,939 | Cons./ Bullish | 10,400 | 12,000 | 10,000 | 12,700 |
DOW JONES | 33,147 | Cons./ Bullish | 31,200 | 34,500 | 30,200 | 35,000 |
TADAWUL | 10,478 | Cons./ Bullish | 10,000 | 11,200 | 9,700 | 11,700 |
FTSE ADX | 10,211 | Consolidation | 9,900 | 10,750 | 9,680 | 11,000 |
DFM | 3,336 | 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 -0.81%
For the week ahead we are in favour of a possible consolidation in the 7,400-7,500 area
Indicators
Slightly negative week that sees the price remaining above the 5-day average: a positive short-term indicator, even if we believe that the seasonality of the British index will continue to bear witness.
MACD and RSI are still in positive territory
An eventual re-test of the 7,600 is still on the table. At the same time it is important to underline how the British index has repeatedly behaved on regular pattern: recovery following a rebound on the 50-day average (yellow line), to then cut back gains in favour of more marked declines. Proof of that are the periods of January - February 2022 and April - May 2022.
We remain bearish on the FTSE 100 despite a possible short-term upside as risk/reward continues to remain in favour of a test of 7.200-7.100.
Support at 7,150
Resistance at 7,600
FTSEMIB (#FTSEMIB)
FTSEMIB index had a week down by -1.07%
For the week ahead we favour a consolidation in the 24,000-23,600 area