AUS200
Dominant bias: Bullish
AUS200 moved north by over 3700 points in July 2016, as it
was anticipated. There is a Bullish Confirmation Pattern in the daily and
4-hour charts, emphasizing bulls’ hegemony. In this market, the best trading
approach now is to buy short-term pullbacks whenever they happen, providing
that a pullback is followed by a bullish candle. This is exactly what happened
on July 5, 2016, and it was followed by a nice bullish run.
SPX500
Dominant bias: Bullish
This market moved upwards in bullish mode between July 4 to
20 (the dip the happened on July 5 being a “buy” opportunities for latecomers).
Price then consolidated from July 20 till the end of the month. The
consolidation that happened in the last few days of the month has resulted in a
“box” between the support line at 2157.0 and the resistance line at 2178.5; and
price would need to go out of the box for the trend to continue. Since the
outlook on SPX500 is currently bullish (though bears might win before the end
of this year), price would continue going upwards when it leaves the box.
US30
Dominant bias: Bullish
Here, price reached a low of 17709.0 and a high of 18635.0,
in July 2016. That was a gain of over 920 points, from trough to peak. However,
price threatened to break down last week, forming a bearish signal on the
4-hour chart, while the bias on the daily chart remains bullish. In August, a
movement bellow the accumulation territory at 18200.0 would result in a bearish
outlook, unless price moves upwards before reaching that accumulation territory.
GER30
Dominant bias: Bullish
In the last prognosis, the supply level at 10470.8 was our
target for last month. From the monthly low of 9301.3, price went up more than
10,500 points, to close the month at 10350.7. While the target for last month has
not been reached, it would be reached in August. Price might even be able to go
above it, and gain additional 500 points after the initial target has been
exceeded.
FRA40
Dominant bias: Bullish
From July 4 to 7, FRA40 went south, but further southward
movement was rejected at the demand zone of 4057.4, after which price went
northward by roughly 4000 points. There is an ongoing bullish signal in the
market and price is supposed to continue trending upwards in August 2016,
reaching the supply zones at 4500.0, 4550.0 and 4650.0 in this month or next.
Source: www.tallinex.com
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