In the week just closed, there was a good chance of seeing a pullback, and instead it happens that the market, like this one, gets the numbers and goes straight ahead. We will see that the US-Korea tensions and the elections in Germany will move the balance somewhat with a few days of delay. The bull is not, however, at issue at this time. Let’s look at the situation in detail:
FTSEMIB: Ever BULLISH rating since December. We are now very close to the target at 22830 consisting of the resistance shown in the chart. Once you get there you will be able to make new reflections. First support at 21700.
DAX30: Buy the rumor, sell the news? Merkel has won the elections but without majority (with the Spd flop). Will the Dax also force 12600 or will it return to the 12200? We could see the pullback of a few days later. At the break of 12600 let’s wait at least 12700 as a weekly target.
S&P500: The very low volatility candle is predicting an increase volatility this week. Not to rule out a 2480 test. In any case the trend is still firmly BULLISH.
BUND: Bund’s fate will be set at 159,80 €. Only below 159.8 the neutral phase will change to a bearish scenario.
EUR USD: Everything unchanged. Trading range assumptions fo the short term respected at the moment. 1.21 remains the resistance that should curb the bulls.
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. 