Stock Indices Update – January, February & March 2021
Previous Analysis: https://analysis.tfxi.com/2020/09/25/stock-indices-update-october-november-december-2020/
ASX 200 (Australian Stock Index – AUS200) – Daily & Weekly Charts
ASX 200 has been bullish.
On the weekly time-frame, price has swung above the weekly moving averages but has yet to form a swing higher. AUS200 is looking indecisive and is ranging between the recent highs at 7112 and the recent lows at 4536. The moving averages confirm the market indecision – they are crossing and moving sideways.
AUS200 is up-trending on the daily time-frame and is currently finding support around the shorter-term moving average. The moving averages are bullish and widening, signalling that the uptrend may continue.
Opportunities to go long could exist around the dynamic support of the weekly and daily moving averages, around the daily bullish channel support area and around the horizontal levels at 6238, 5764 and 5455. A bullish move may be rejected or reverse around the daily channel resistance area and around the weekly range resistance at 7112.
DAX (German Stock Index – DE30) – Daily & Weekly Charts
As suggested in our last DAX analysis, price has been finding resistance around the weekly diagonal level and the weekly range resistance .
The DE30 continues to be indecisive and lack trend direction. The weekly moving averages have been crossing frequently and are moving sideways, confirming the market indecision. Price is at all-time highs, a key resistance level in the market.
Price is also looking indecisive on the daily time-frame.
Trading opportunities could exist around the daily and weekly moving averages, around the weekly diagonal level and around the horizontal levels at 10460, 11540 and 13800. Buying opportunities could exist if price closes above the 13800 area.
IBEX 35 (Spanish Stock Index – ES35) – Daily & Weekly Charts
Price has been bullish.
On the weekly chart, the ES35 has formed a bullish reversal pattern and also a bullish channel, all signalling a potential uptrend. The weekly moving averages are bearish and widening though, suggesting another potential bearish move.
The daily chart is showing a clear uptrend within the bullish channel. The moving averages are bullish, suggesting the trend could continue.
Long opportunities may exist around the daily moving averages, around the weekly shorter-term moving average, the weekly bullish channel support area and around the recent lows at 6225. IBEX could become bearish off the weekly longer-term moving average, around the weekly bearish channel resistance area and around the horizontal levels at 8480, 9980 and 10280.
STOXX (European Stock Index – EU50) – Daily & Weekly Charts
As suggested in our last stock index analysis, EU50 has reversed around 2960.
Price continues to be indecisive and lack trend direction. The weekly moving averages confirm the market indecision – they have been crossing frequently and are moving sideways.
STOXX has been up-trending on the daily chart. The moving averages are bullish and steady. Price action has formed a number of potential trend support levels.
Buying opportunities could exist around the daily and weekly moving averages, around the daily trend support levels and around the horizontal levels at 3370, 2960 and 2425. A bullish move may find resistance around 3660 and 3850.
Hang Seng 50 (Hong Kong Stock Index – HK50) – Daily & Weekly Charts
The Hang Seng has been bullish.
Price continues to be in a retrace move. HK50 is now at weekly bearish channel resistance though, suggesting that the retrace move could becoming to an end. The weekly moving averages are bearish and widening, suggesting that the downside direction could continue.
On the daily time-frame, the Hang Seng has been up-trending toward the weekly bearish channel resistance area.
Opportunities to go short may exist around the bearish channel resistance area and around the horizontal levels at 27935, 29135 and 30180. A bearish move could stall or reverse around the daily and weekly moving averages and around the horizontal levels at 26530, 23120, 22510 and 21465.
Nikkei 225 (Japanese Stock Index – JP225) – Daily & Weekly Charts
As suggested in our last JP225 chart analysis, price closed above the range resistance area and has since been bullish.
The Nikkei has swung above the recent consolidation area and the moving averages are bullish and steady, signalling that price may start up-trending.
Price is clearly up-trending on the daily time-frame. The daily moving averages are bullish and widening.
Opportunities to go long could exist around the daily trend support area, around any of the key Fib levels, around the dynamic support of the daily and weekly moving averages and around the horizontal levels at 24165 and 19760.
FTSE 100 (UK Stock Index – UK100) – Daily & Weekly Charts
The FTSE reversed around the daily bearish channel support and resistance areas, as suggested in our last chart analysis. Price has since been bullish.
On the weekly chart, price action has formed a higher swing high and a higher swing low, signalling a potential uptrend. The weekly moving averages are bearish and widening though, suggesting a potential bearish move.
On the daily chart, UK100 is showing signs of an uptrend. The moving averages recently crossed bullish and are widening.
Long opportunities may exist around the trend support area, around the daily moving averages, around the shorter-term weekly moving average and around the horizontal support levels at 5535 and 4860. A bullish move could find resistance around the weekly longer-term moving average and around the horizontal levels at 6655, 7005, 7675 and 7815.
Dow Jones 30 (US Stock Index – US30) – Daily & Weekly Charts
As suggested in our last Dow Jones chart analysis, price reversed around the weekly moving averages and has been bullish.
The US30 is above the recent weekly consolidation, suggesting a potential uptrend. The moving averages are still tight though, signalling market indecision.
Price is clearly up-trending on the daily time-frame. The moving averages are bullish and widening.
Buying opportunities could exist around any of the key Fib levels, around the dynamic support of the daily and weekly moving averages and around any of the identified horizontal levels at 29480, 28870, 26330 and 24885.
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