After more than two months of stop for the succession of multiple commitments that led me to reduce the publications, we resume the weekly report. In the meantime, updates have not been lacking given the numerous columns (QuantCertificates, and those for ICEMP) that you can follow via APP, social networks and newsletters.
Let’s look in detail at the situation after the crash on Friday:
FTSEMIB: We had highlighted in other articles for partner sites and in the course of “Technical Analysis” on CNBC Class as the 24000 points would have represented a hard obstacle for the Ftsemib. So it was but the support at 23000 should facilitate a rebound. If instead the support yielded the descent could continue towards 22,000 points but it would not decree the death of the bull.
DAX30: here (and on Eurostoxx) the technical situation is worse than the Ftsemib. The double maximum at 13500, the failure of 12900, the super euro and the super petrol must light some alarm bells. 12600 is the decisive support.
S&P500: The bull is not in question. For now what happened on Friday is a bad closure, one of the worst since a couple of years, but not the end of the uptrend. The primary trend remains BULLISH.
BUND: The break of 160 and the trendline break in yellow (already a few weeks ago) could open bearish scenarios with the first target at 155.
EURO DOLLARO: 1.25 should curb the super euro as it did at 1.21. Expected a pullback. If and when the resistance breaks, the target would become 1.30.
BITCOIN: The short-term trend is bearish and could further strengthen with the breaking of the bullish trendline highlighted on the chart. At 6700, however, the support could be able to attract buyers.