Technical Analysis: Indices – Nov 18
Technical Analysis for November 18, 2014
SPX still trading around 2020-2050 level and the next support could be seen around 2015 level and a break higher than 2050 will bring the price even higher. No big movement expected for now and market is expected to keep moving in sideways.
Dow30 A break under 17300 will send the Dow Jones even lower. Currently Dow Jones sticking around 17300 – 17600 level and still bullish, no change at all from the last movement in Friday.
FDAX has tried to break the 9180 support level but rebounce back to 9300 level. FDAX still trapped in 9180 – 9400 trading range but a lower leg to 9180 level again will test a break out to the lower level. A lower leg break will target 9030 next and a higher break over 9400 will bring FDAX to a new higher level.
FTSE has broken 6630 level and it is trying to break 6680 next. Resistance will be seen around 6680 level and a break over that will target 6740 next. A lower leg to 6580 will target 6540 next. Currently FTSE still in long term uptrend, bullish.
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