In reference to our last blog about S&P-500 on . Its now completed the inverse H&S patter by making right shoulder at 1295 on 18th of this month. now we can affirmative neck line at 1338-40 level. this week will be acid test for #SPX whether it goes beyond neck line. Failing with any reason of this pattern will result a consolidation range bound movement within range of neck line 1340 to shoulders low 1395. either side BO/BD will result 1250 on down and 1375 on upside immediate target.
As far #DOW pattern is concern, DOW has recently BO from Double top pattern of 12400 level. Sustaining is always a big question for traders, but in DOW case, i believe it always sustained trader's faith. 12400 can be retest once.
#CAC is performing good on chart.a wide range within 3870 to 4070 is possible in next few trading session. though, no major auxiliary indicator has been detected apart of our theory indicated holding long. in this year, this indices probably going to set more wide range accordingly patter within pattern trading will be helpful for short term traders.
#DAX last week after making a small low around 7000, is back on upside run. no major ressitance is detected before 7440. 21 days ADX still under 20 level. not sing of outperforming in near term.
#FTSE is a range bound or sideway market with wide range of 6090 to 5860. BO/BD will attract decent rally on either side.
After almost settled of japan nuclear crisis, major global indices like DOW, SPX back on upside run, while Nikkie sustaining sideways movement without any further losses. Nifty is influenced by Local issues of Inflation & RBI policy ahead hence no major recovery unless sustain close beyond 5930.
Thanks.
0 Comments:
Post a Comment