What a nice bull we have seen in these days on the financial markets, there is still a lot of desire to go up but some indices according to indicators and according to statistics could correct. If a pullback will arrive, it will be interpreted as a buy opportunity.
We look at the situation in detail.
FTSEMIB: From September 10: “Judgment BULLISH from December. […] Over 22150 we would have a new bullish signal with target 22800.” A pullback with consolidation above 21700 would not deny the target and would be an opportunity to strengthen the long positions with very close stop. DAX30: The Dax breaks at weekly opening at 12220 and goes to the next one. Now a pullback might be possible. On a weekly basis, the BULLISH trend reconsolidates.
S&P500: In the previous report we reported the formation of an inside weekly candle. At its break, the bull has again strengthened. Now a pullback towards 2480 and a consolidation would be likely. Reversal is not spoken of unless the breaking of 2419. BULLISH.
BUND: The targets were reached 10 days ago and the rollovers were profit-taking opportunities. The Bund now finds important supports that should curb the descent. Only below $ 159.8 the medium trend would change to a bearish scenario.
EURO DOLLARO: Last week we re-raised the hypothesis that only one closing over 1.21 could deny a short trading range. At the moment 1.21 held and we witnessed a physiological correction.
DISCLAIMER:The past results are no guarantee that they will get similar in the future. Those who invest or carry out speculative activity do so under their own responsibility, aware of the intrinsic risks and losses that such an operation can generate.