Financial index | Current price | Forecast | S1 | R1 | S2 | R2 |
​FTSE100 | 7,765 | Cons./ Bearish | 7,400 | 7,900 | 7,200 | 7,800 |
FTSEMIB | 26,435 | Cons./ Bearish | 23,400 | 25,900 | 22,400 | 26,500 |
DAX 40 | 15,150 | Cons./ Bearish | 13,800 | 15,200 | 13,400 | 15,500 |
S&P 500 | 4,070 | Consolidation | 3,750 | 4,100 | 3,600 | 4,180 |
NASDAQ 100 | 12,166 | Consolidation | 10,400 | 12,000 | 10,000 | 12,700 |
DOW JONES | 33,978 | Consolidation | 31,200 | 34,500 | 30,200 | 35,000 |
TADAWUL | 10,847 | Consolidation | 10,000 | 11,200 | 9,700 | 11,700 |
FTSE ADX | 9,373 | Consolidation | 9,900 | 10,750 | 9,680 | 11,000 |
DFM | 3,329 | Consolidation | 3,270 | 3,500 | 3,100 | 3,730 |
S: Support R: Resistance
FTSE 100 (#UKX)
The FTSE100 index had a week down by -0.07%
For the week ahead we are in favour of a possible retracement to the 7,650 area
Indicators
Slightly negative week that sees the British index remaining below the 5-day average. That this could be the beginning of a major retracement is still too early, but looking at internal indicators, the conditions seem to be in place for a market reversal.
MACD and RSI, left the overbought areas, are now reversing to the downside.
We believe that risk-reward is still in favour of short-medium term downsides with the first target at 7,650 and then, in our view, proceed further downside to at least 7,400-7,300.
We remain bearish on the FTSE100 given the over-extension to the upside
Support at 7,400
Resistance at 7,900
FTSEMIB (#FTSEMIB)
The FTSEMIB index had a week up by +2.56%
We are in favor of a consolidation in the 25,500 area for the week ahead
Indicators
Very positive week for the Italian index which is now less than 2,000 points from the 2021 highs.