TriumphFX – Indices Analysis – October, November & December 2021

Previous analysis… https://analysis.tfxi.com/2021/07/26/triumphfx-stock-indices-update-july-august-september-2021/

ASX 200 (Australian Stock Index – AUS200) – Daily Chart

As suggested in our last stock index chart analysis, the ASX swung higher and was bullish.

Price is up-trending. Recent price action has been bearish though, as AUS200 is in a retrace move. The retrace move has formed a lower swing low and price action could be forming a head and shoulder trend reversal pattern, suggesting that upside momentum could be weakening – the uptrend could be temporarily over. The moving averages confirm this – they are tight and moving sideways. The ASX could start ranging between 7165 and 7625.

Trading opportunities may exist around the moving averages, around the support and resistance areas of the range and if the AUS200 moves out of the range (break-out trade). A break to the downside could find support around the horizontal levels at 6885, 6660, 6515 and 6230.

DAX (German Stock Index – DE30) – Daily Chart

The DAX reversed around the trend support area and formed a swing higher, as suggested in our last analysis.

Price has since been moving sideways and is looking indecisive. The moving averages confirm the market indecision – they are tightening and are moving sideways. Price action is forming a horizontal channel at 14900-15970 and the DE30 is moving within the channel.

Trading opportunities could exist around the diagonal support and resistance area, around the support and resistance of the horizontal channel and if price moves out of the channel (break-out trade). A break to the downside may find support around the horizontal levels at 14135, 13730 and 13400.

IBEX 35 (Spanish Stock Index – ES35) – Daily Chart

As suggested in our last index analysis, price has been bullish.

The IBEX 35 has been up-trending – price action has formed a short series of higher swing highs and higher swing lows. Price is now looking indecisive though, just like other stock indices. The daily moving averages are tightening and are moving sideways – confirming the current indecision. The ES35 is currently ranging between 8585 and 9020.

Trading opportunities may 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 downside could find support around 8255, 7725, 7560 and 7300. A break to the upside could find resistance around 9320.

STOXX (European Stock Index – EU50) – Daily Chart

Price was bullish and formed another swing high, as suggested in our last analysis.

EU50 is clearly up-trending – price action has formed a long series of higher swing highs and higher swing lows. Price continues to move within a weekly bullish channel. The daily moving averages are bullish and steady, signalling that the uptrend may continue.

Buying opportunities could exist around the dynamic support of the moving averages, around the bullish channel support area and around any of the horizontal levels at 3995, 3910, 3635, 3450, 3415 and 3300. A bullish move may be rejected or reverse around the recent swing high at 4240 and around the bullish channel resistance area.

Nikkei 225 (Japanese Stock Index – JP225) – Daily Chart

As suggested in our last Nikkei analysis, the JP225 has been moving sideways.

Price is indecisive and is lacking trend momentum. The moving averages confirm the market indecision – they are tight and moving sideways. The Nikkei is ranging and has formed a horizontal channel at 27200-30600.

Trading opportunities may exist around the support and resistance areas of the channel and if price moves out of the channel (break-out trade). A break to the downside could find support around 23700 and 22900.

FTSE 100 (UK Stock Index – UK100) – Daily Chart

The FTSE 100 has been bullish and has been reversing off the moving averages, as suggested in our last indices analysis.

Price has been clearly up-trending – price action has formed a long series of higher swing highs and higher swing lows. The moving averages are bullish and steady, signalling that the uptrend may continue. Price action has formed a bullish channel and the UK100 is moving within the channel.

Long opportunities could exist around the dynamic support of the moving averages, around the bullish channel support area and around any of the horizontal levels at 6890, 6810, 6370, 6305 and 6080. The FTSE may be rejected or reverse around the bullish channel resistance area.

Dow Jones 30 (US Stock Index – US30) – Daily Chart

As suggested in our last chart analysis, the Dow has been bullish and has been swinging higher.

The US30 is clearly up-trending – price action has formed a long series of higher swing highs and higher swing lows. The daily moving averages are bullish and steady and price action has formed a bullish channel, all suggesting that the uptrend could continue.

Opportunities to go long may exist around the dynamic support of the moving averages, around the bullish channel support area and around any of the horizontal levels at 35560, 33800, 33170, 32060, 30845 and 29800. A bullish move could find resistance around the bullish channel resistance area.

S&P 500 (US Stock Index – US500) – Daily Chart

Price has been bullish.

The S&P 500 has been clearly up-trending – price action has formed a long series of higher swing highs and lows. Price is currently testing the recent highs at 4545. The daily moving averages are bullish and steady, signalling that the upside direction may continue. If the US500 struggles to pass the recent highs and resistance at 4545, price may start ranging between 4265 and 4545.

Buying opportunities could exist around the bullish moving averages and around any of the identified horizontal levels at 4265, 4150, 4065m 3950 and 3760.

NASDAQ 100 (US Tech Stock Index – UST100) – Daily Chart

UST100 has been bullish.

Price has been up-trending and is currently in a retrace move. The daily moving averages are bullish and steady, suggesting that the uptrend could continue. There is a chance that the NASDAQ could start ranging between 14500 and 15700.

Long opportunities may exist around the bullish moving averages and around any of the horizontal levels at 14500, 14000, 13000 and 123000. A bullish move could stall or reverse around the recent swing high and potential range resistance at 15700.

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