Technical Analysis: Indices – Dec 04
Technical Analysis for December 04, 2014
SPX rejecting the lower movement to a trading range and moves higher to 2075 and attempts to break even higher. The next target over this break will be 2100 and a lower movement under 2040 will send SPX back into the 2030-2050 trading range.
Dow30 slowly grinding higher to break 17900 level and targeting 18000 slowly but a lower break to 17600 will target 17450 next to bring back Dow Jones in lower sideways trading range. Long term uptrend very strong in here, bullish.
FDAX poked 10000 level but eventually retraced back under 10000. Currently market still trying to touch 10000 level once again and find a price stability around that level. A break lower to 9700 level will disturb the bullishness in FDAX and bring back to lower sideways.
FTSE retraced a bit form the last big bull reversal and trading around 6720 for now. Currently a lower movement under 6700 will bring back FTSE into the last trading range but a retest to 6760 level will target 6775 level. If it breaks this level a new higher movement will be expected.
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