Indices Technical Analysis

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FTSE  MIB

20000 is our pivot point.

Our preference: As long as 20000 is not broken down, we favour an upmove with 21900 and then 22600 as next targets.

Alternative scenario: below 20000 expect a drop to 18800 and 17800.

Comment: The RSI is around its neutrality area at 50%

Trend: ST consolidation; MT bullish.

Supports and resistances:
23150 **
22600 ***
21900 **
20929 Last
20000 ***
18800 *

17800 **

 

 

IBEX‏ (MEFF)‏ (Q4)

 Pivot: 10600


Our preference: Long positions above 10600 with targets @ 10990 & 11050 in extension.

Alternative scenario: Below 10600 look for further downside with 10390 & 10250 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
11140 **
11050 **
10990 **
10914 Last
10600 **
10390 **
10250 **

 

 

Cac 40‏ (NYSE Liffe)‏ (Q4) 

 Pivot: 4300


Our preference: Long positions above 4300 with targets @ 4375 & 4392 in extension.

Alternative scenario: Below 4300 look for further downside with 4280 & 4250 as targets.

Comment: The RSI lacks downward momentum.

Supports and resistances:
4415 **
4392 **
4375 ***
4346 Last
4300 **
4280 **
4250 **

 

 

Dax‏ (Eurex)‏ (U4) 

 Pivot: 9528


Our preference: Long positions above 9528 with targets @ 9710 & 9745 in extension.

Alternative scenario: Below 9528 look for further downside with 9460 & 9425 as targets.

Comment: The RSI lacks downward momentum.

Supports and resistances:
9820 **
9745 **
9710 ***
9610 Last
9528 **
9460 ***
9425 **

 

 

Euro Stoxx 50‏ (Eurex)‏ (U4)

 Pivot: 3146


Our preference: Long positions above 3146 with targets @ 3194 & 3225 in extension.

Alternative scenario: Below 3146 look for further downside with 3130 & 3105 as targets.

Comment: A support base at 3146 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
3239 **
3225 **
3194 ***
3179 Last
3146 **
3130 **
3105 **

 

 

Russell 2000‏ (ICE)‏ (U4) Intraday: under pressure.

 Pivot: 1148


Our preference: Short positions below 1148 with targets @ 1123 & 1112 in extension.

Alternative scenario: Above 1148 look for further upside with 1162 & 1176 as targets.

Comment: The RSI is bearish and calls for further decline.

Supports and resistances:
1176 **
1162 **
1148 **
1131 Last
1123 **
1112 **
1095 **
 

Dow Jones‏ (CBT)‏ (U4) Intraday: key resistance at 16960.

 Pivot: 16960


Our preference: Short positions below 16960 with targets @ 16725 & 16660 in extension.

Alternative scenario: Above 16960 look for further upside with 17070 & 17130 as targets.

Comment: The RSI is capped by a bearish trend line.

Supports and resistances:
17130 **
17070 **
16960 **
16894 Last
16725 **
16660 **
16625 **

 

 

Nasdaq 100‏ (CME)‏ (U4) Intraday: the downside prevails.

Pivot: 3991

Our preference: Short positions below 3991 with targets @ 3909 & 3883 in extension.

Alternative scenario: Above 3991 look for further upside with 4017 & 4043 as targets.

Comment: The RSI is bearish and calls for further downside.

Supports and resistances:
4043 **
4017 **
3991 **
3953 Last
3909 **
3883 **
3854 **

 

 

S&P500‏ (CME)‏ (U4) Intraday: the downside prevails.

 Pivot: 1976


Our preference: Short positions below 1976 with targets @ 1959 & 1952 in extension.

Alternative scenario: Above 1976 look for further upside with 1986 & 1992 as targets.

Comment: The RSI is capped by a bearish trend line.

Supports and resistances:
1992 **
1986 **
1976 **
1968 Last
1959 **
1952 **
1942 **

 

 

Straits Times ST: bullish bias above 3265.

 Pivot: 3265


Our preference: Long positions above 3265 with targets @ 3370 & 3410 in extension.

Alternative scenario: Below 3265 look for further downside with 3220 & 3180 as targets.

Comment: The RSI is bullish and calls for further advance.

Supports and resistances:
3460 
3410 
3370 
3355.83 Last
3265 
3220 
3180 

 

 

S&P500‏ (CME)‏ (U4) Daily Time Frame

 

 Bullish Divergence (ADX) Daily Chart

 

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