TriumphFX – Indices Analysis – August, September, October 2022


Previous analysis… https://analysis.tfxi.com/2022/03/16/triumphfx-indices-analysis-apr-may-june-2022/

ASX 200 (Australian Stock Index – AUS200) – Daily Chart – Down-trending

AUS200 Daily Chart

As suggested in our last analysis, ASX reversed around 7625 and has since been bearish.

Price is down-trending – price action has formed a series of lower swing highs and lower swing lows. AUS200 is currently in a retrace move and has recently tested the longer-term moving average. The moving averages are bearish and widening, suggesting that the downtrend may continue. The current retrace move has been large though, signalling that downside momentum may be weakening – the downtrend may becoming to an end.

Opportunities to go short could exist around the longer-term moving average and around the horizontal resistance levels at 7135, 7280, 7300 and 7625. A bearish move may be rejected or reverse around the shorter-term moving average and around any of the horizontal levels at 6970, 6850, 6720 and 6450.

Inflation, recession and European war may cause volatility to global stock indices.

CAC (French Stock Index – FRA40) – Daily Chart – Indecisive

FRA40 Daily Chart

The CAC has been indecisive, as suggested in our last stock index chart analysis.

Price has been moving sideways and has formed a range at 5850-6800. The moving averages confirm the market indecision – they are moving sideways.

Trading opportunities may exist around the support and resistance areas of the range and if the FRA40 moves out of the range (break-out trade). A break to the upside could find resistance around the horizontal resistance levels 7170 and 7320.

Inflation, recession and European war may cause volatility to global stock indices.

IBEX 35 (Spanish Stock Index – ES35) – Daily Chart – Down-trending. Potential indecision?

ES35 Daily Chart

As suggested in our previous analysis, price reversed around 8875 and has been bearish.

IBEX is down-trending but is also looking quite choppy, suggesting market indecision. The moving averages suggest that the downside direction may continue – they are bearish and steady. Price action looks like ES35 may become indecisive though.

Trading opportunities could exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 7500, 7780, 8130, 8530, 8875, 8940, 9175 and 9320.

Inflation, recession and European war may cause volatility to global stock indices.

STOXX (European Stock Index – EU50) – Daily Chart – Down-trending. Possible indecision?

EU50 Daily Chart

Price reversed off the 4000 resistance and has been bearish, as suggested in our previous EU50 analysis.

Eurostoxx has been down-trending – price action has been forming lower swing highs and lower swing lows. Recent price action has been choppy and indecisive though. The moving averages are bearish and steady, suggesting that the downtrend could continue. EU50 looks like it could start ranging.

Trading opportunities may exist around the moving averages and around any of the identified horizontal levels at 3400, 3800, 3850, 3900, 4000, 4240 and 4400.

Inflation, recession and European war may cause volatility to global stock indices.

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

UK100 Daily Chart

As suggested in our last index analysis, the FTSE100 has been indecisive.

Price is clearly moving sideways and has formed a range at 6860-7660. The daily moving averages confirm the market indecision – they are tight and moving sideways.

Trading opportunities could exist around the support and resistance areas of the range and if the UK100 moves out of the range (break-out trade). Trading opportunities could also exist around the horizontal support levels at 7220 and 7000.

Inflation, recession and European war may cause volatility to global stock indices.

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

JP225 Daily Chart

Nikkei 225 has been bullish.

Price is forming a higher swing high above a key resistance area, suggesting a potential uptrend. JP225 is currently in a retrace move. The moving averages are tight and moving sideways but have crossed bullish, adding some confirmation to the possible trend. Price action has formed a potential bullish channel.

Opportunities to go long may exist around the dynamic support of the moving averages, around the bullish channel support area and around the horizontal levels at 28300, 25800 and 24850. A bullish move could stall or reverse around 29250, 29900 and 30600.

Inflation, recession and European war may cause volatility to global stock indices.

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

US30 Daily Chart

As suggested in our last analysis, the Dow has been bearish and has formed a clear downtrend.

Recent price action has been bullish though and is currently forming a higher swing high, suggesting a possible uptrend. US30 is currently in a retrace move. The moving averages are still bearish but price is above the moving averages, signalling that downside momentum may be weakening. The Dow has formed a potential bullish channel.

Long opportunities could exist around the shorter-term moving average, around the bullish channel support area and around the horizontal levels at 32650, 31300 and 29900. A bullish move may find resistance around the channel resistance area and around the horizontal resistance levels at 34150, 35300, 35800, 36350 and 36750.

Inflation, recession and European war may cause volatility to global stock indices.

S&P500 (US Stock Index – US500) – Daily Chart – Uptrend?

US500 Daily Chart

Price has been bearish and has formed swings lower, as suggested in our last S&P chart analysis.

The US500 has been down-trending but recent price action has been bullish. Price is forming a higher swing high and a potential inverted head and shoulder pattern, signalling a potential uptrend. Price is also forming a potential bullish channel. The moving averages are still bearish, suggesting that the S&P500 could continue to downtrend.

Buying opportunities may exist around the shorter-term moving average, around the bullish channel support area and around the horizontal levels at 4065, 3950, 3760 and 3680. A bullish move could find resistance around the longer-term moving average, around the bullish channel resistance area and around the horizontal levels at 4300, 4585, 4720 and 4800.

Inflation, recession and European war may cause volatility to global stock indices.

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

UST100 Daily Chart

As suggested in our previous stock index analysis, price reversed around the longer-term moving average and has been bearish.

NASDAQ has recently been bullish. Price action has formed a higher swing high and a potential inverted head and shoulder pattern, all suggesting a possible uptrend. The moving averages signal that the downside momentum may continue – they are bearish and steady.

Opportunities to go long could exist around the shorter-term moving average and around the horizontal levels at 12930, 11500 and 11150. A bullish move may be rejected or reverse around the longer-term moving average and around the horizontal levels at 13650, 15225, 15700 and 16600.

Inflation, recession and European war may cause volatility to global stock indices.

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