ZuluTrade Blog
Image

Market View

Review On Major Indices SPX500 US30 GER30 ES35 JPN225

Wednesday, February 22, 2017 4:24 AM GMT

Goodmorning!

The bullish momentum is still on fire for the major indices. Yesterday, GER30 recorded new highs of 22 months breaking out the psychological 12000 level while canceling the potential double top pattern.  DAX is following the extreme upmove of US indices like SPX500, US30 and NAS100 that still outperform for many days.  Therefore, their technical view is very interesting for all the forex traders.

SPX500 Daily

The bears need an immediate bearish reversal in order to verify the negative divergence as we have noted on the chart. Naturally, the bulls are having a party and control the price action.

 

US30 Daily

The chart is similar like SPX500. However, we have noted a longer period negative divergence with RSI (14) which is important. As previously, the bears need to really step up soon if they want to verify the technical weakness.


DAX30 Daily

The index broke out 12000 level and it gave a bigger boost on the buyer’s side. However, there is also a RSI negative divergence but price may still go higher close to the trendline.

 

ES35 Daily

There is a small rising wedge and we have noted two potential scenarios for both sides.  

 

FRA40 Daily

There is a potential cup and handle pattern, but we need to breakout the neckline in order to verify it. As well as before, we have noted two potential scenarios.

 

JPN225 Daily

This index is forming a symmetrical triangle. The price is very close to the upper side of triangle, but we haven’t still any valid breakout. 

 



Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.