Technical Analysis for December 12, 2014

SPX retraces to 2050 level but eventually back to 2030 level. Next lower target will be 2000 level and a break of this level will shake off bull trend in SPX. Higher break above 2050 will send SPX to 2075 next. Any break is possible due to volatility in the market.

 

Dow Jones retraces to 17700 but moves lower again to 17600 level. Next lower target will be 17450 and a break at 17700 will bring sideways to Dow Jones. Next sideways stop will be around 17650 – 17750 level.

 

FDAX retraces above to 9900 and this movement will try for a retest at 10000 level once again. A lower break under 9800 will pose a down risk at 9750 and 9500 eventually.

 

FTSE breaks 6450 line and still finds no bottom at all. Currently FTSE traded around 6400 level, almost breaking 6400 line and a break from this level will impose danger to 6360 line. A reversal to 6575 will target 6600 level next.

 

 

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