Indices Update; September, October, November & December 2019

ASX 200 (Australian Stock Index – AUS200)

As suggested in our last indices analysis, price found support around 6371 and has since been bullish. The AUS200 is up-trending and is currently in a retrace phase. The moving averages are bullish and steady, signalling that the upside momentum could continue.

Buying opportunities may exist around the dynamic support of the moving averages and around the horizontal levels at 6371, 6200, 6109 and 5935. A bullish move could be rejected or reverse around the recent highs at 6870.

DAX (German Stock Index – DE30)

The DAX has been bearish. Price has swung below the recent trend support area and the moving averages, signalling that the uptrend is over. The moving averages confirm this – they are tightening and are moving sideways.

Trading opportunities could exist around the moving averages, around the previous trend support area (as resistance) and around any of the identified horizontal levels at 10375, 11422, 12657, 12820 and 13155.

IBEX 35 (Spanish Stock Index – ES35)

As suggested in our last indices analysis, IBEX has reversed off the previous bearish channel resistance area (as support). Price is below the recent consolidation area and price action has formed a series of lower swing highs and lows, all signalling that the ES35 could start down-trending. The moving averages are becoming bearish, signalling the potential downside.

Selling opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 8885, 9403 and 9599. A bearish move could stall or reverse around the horizontal support levels at 8470 and 8340.

STOXX (European Stock Index – EU50)

Price has reversed off the horizontal level at 3259 (as suggested in our last indices chart analysis). Eurostoxx is moving sideways and is looking indecisive. The moving averages confirm the market indecision – they are tightening and are moving sideways. Price is ranging between 3259 and 3549. Stoxx may be forming a head and shoulder reversal pattern, signalling that price may move lower.

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 find resistance around 3587. A break to the downside may find support around 3103 and 2935.

Hang Seng 50 (Hong Kong Stock Index – HK50)

As suggested in our last stock index analysis, price has found support around 24907. The Hang Seng 50 has moved below a key support area, has formed a potential downtrend and the moving averages are becoming bearish, all signalling that price could move lower.

Shorting opportunities may exist around the bearish moving averages, around the trend resistance area and around the horizontal levels at 26689 and 28978. The HK50 could find support around the horizontal support levels and recent lows at 24828 and 24550.

Nikkei 225 (Japanese Stock Index – JP225)

The Nikkei has been bearish. Price action has formed a bearish channel and the moving averages have crossed bearish, all suggesting that the JP225 may start down-trending.

Opportunities to go short could exist around the bearish moving averages, around the channel resistance area and around the horizontal levels at 21775 and 22485. A bearish move may find support around the channel support area and around the horizontal levels at 20302 and 19163.

FTSE 100 (UK Stock Index – UK100)

UK100 has been bearish. Price is now looking indecisive and is lacking trend direction. The moving averages confirm the current indecision – they are tightening and are moving sideways.

Trading opportunities may exist around the moving averages, around the previous trend support area (as resistance) and around the horizontal levels at 6583, 7015, 7523, 7693, 7778 and 7863.

Dow Jones 30 (US Stock Index – US30)

Price has been bearish. The US30 is up-trending and is currently in a retrace phase. The moving averages are tightening and moving sideways, signalling market indecision.

Long opportunities could exist around the moving averages and around the horizontal support levels at 25132 and 24625. A bullish move may stall or reverse around the horizontal resistance levels at 26779 and 27367.

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