Indices, where could they go from here? Global Indices, July, August & September 2019


 

ASX 200 (Australian Stock Index – AUS200)

 

As suggested in our last indices analysis, the ASX has been reversing off the horizontal levels at 6210 and 6371. Price has been bullish and has swung much higher. The moving averages have crossed bullish and are steady, signalling that the ASX may start up-trending.

Opportunities to go long could exist around the dynamic support of the moving averages and around the identified horizontal levels at 6498, 6371, 6200 and 6109.

 

DAX (German Stock Index – DE30)

 

The DAX found resistance around the bearish channel resistance area (as suggested in our last indices analysis) but has since been bullish. Price has swung above the recent bearish channel resistance area and the moving averages have crossed bullish, all signalling that the recent downtrend could be over.

Long opportunities may exist around the diagonal support area, around the bullish moving averages and around the horizontal level at 11642. The DAX could find resistance around 12447, 12820 and 13155.

 

IBEX 35 (Spanish Stock Index – ES35)

 

Price has been bullish and has moved above the recent bearish channel resistance area. IBEX has since been moving sideways and is currently ranging between 8884 and 9599. The moving averages are moving sideways – confirming the current indecision.

Trading opportunities could exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the upside may stall or reverse around 9663, 9956 and 10276. A break to the downside may stall or reverse around the previous bearish channel resistance and around 8628 and 8340.

 

STOXX (European Stock Index – EU50)

 

As suggested in our last indices analysis, price has been bullish. STOXX has formed a higher swing high and a higher swing low – price is up-trending. The moving averages are bullish and widening, signalling that the uptrend could continue.

Buying opportunities may exist around the dynamic support of the moving averages, around the previous trend resistance area (as support) and around the horizontal levels at 3348 and 3259. STOXX could find resistance around 3525 and 3587.

 

Hang Seng 50 (Hong Kong Stock Index – HK50)

 

The Hang Seng was initially bullish (as suggested in our last indices analysis) but has since been moving sideways. The moving averages are also moving sideways – confirming the current indecision.

Trading opportunities could exist around the moving averages, around the previous trend resistance area (as support) and around the horizontal levels at 24554, 24904, 26689, 29385, 30173, 31713 and 33288.

 

Nikkei 225 (Japanese Stock Index – JP225)

 

As suggested in our last indices analysis, the Nikkei has been bullish and has been finding support around 21023 and 20367. Price is now looking indecisive. The moving averages confirm the market indecision – they are tight and moving sideways. The Nikkei is ranging between 20302 and 22485.

Trading opportunities may exist around the support and resistance areas of the range and if price closes out of the range (break-out trade). A break to the downside could find support around 19163. A break to the upside could find resistance around 23022 and 24377.

 

 

FTSE 100 (UK Stock Index – UK100)

 

Price has been bouncing off the horizontal levels around 7176 and 7264 (as suggested in our last indices analysis). The FTSE continues to be indecisive but recent price action has been bullish. Price action has formed a bullish channel and the moving averages are bullish and widening, suggesting that the FTSE may start up-trending.

Opportunities to go long could exist around the channel support area, around the bullish moving averages and around the horizontal levels at 7531, 7176 and 6866. A bullish move may be rejected or reverse around the channel resistance area and around the horizontal resistance levels at 7778 and 7863.

 

Dow Jones 30 (US Stock Index – US30)

 

As suggested in our last indices analysis, price reversed around 26802. The Dow has since been bullish though and has swung above the 26802 resistance area. Price action has formed a bullish channel and the moving averages are bullish and steady, all signalling that the Dow could uptrend.

If price can retrace, buying opportunities may exist around the bullish moving averages, around the channel support area and around the horizontal levels at 26802, 26184, 25354 and 24626. A bullish move higher could find resistance around the channel resistance area.

 

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