Technical Analysis for December 05, 2014

SPX will be entering a new trading range around 2060 – 2080 level. A higher break from this level will target 2100 next but a lower break under 2060 will target 2040 next thus will send SPX back into the 2030-2050 trading range.

 

Dow Jones still 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. Dow Jones has entered a new sideways around 17700 – 17900 level for now.

 

FDAX poked 10000 level but eventually retraced back to 9900 level. The last reversal shows a lower movement and will target 9750 next. A higher movement to 10000 level will try to find a price stability around that level.

 

FTSE returned to lower level around 6690 level and will retest the last lower level around 6650 level. A higher movement over 6700 will target 6750 back. FTSE has entered a new sideways around 6660 – 6700 but a break is soon expected.

 

 

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