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Tuesday, November 1, 2016

Monthly Forecasts for CFDs (November 2016)

AUS200

Dominant bias: Bearish
AUS200 consolidated in the first few weeks of October, and dropped conspicuously last week. There are Bearish Confirmation Patterns in the 4-hour and daily charts, which portend the possibility that price could go further south. Therefore, price may target the support lines at 5200.0, 5100.0 and 5000.0 this month, though there would be temporary consolidations or rally attempts along the way.



SPX500
Dominant bias: Bearish  
SPX500 has been consolidating for months. Price has been unable to effect any meaningful bullish rally since August and things are going gradually bearish. Right now, there are bearish signals in the 4-hour and daily charts, and so, the market may reach the support levels at 2100.0, 2090.0 and 2080.0. It is most likely that bears would dominate the market till the end of this year.

US30
Dominant bias: Neutral  
This trading instrument has been in an equilibrium phase since August 2016, though price moved a bit lower in September, and then moving sideways till now. Although the equilibrium movement may continue for some time this month, a rise in momentum is imminent, and that may happen this month or next. A break above the distribution territory at 18650.0 would result in a bullish outlook; and a break below the accumulation territory at 17900.0 would result in a bearish outlook. As long as price is between these accumulation and distribution territories, the market would be viewed as being in an equilibrium phase; and so, a strong and persistent buying or selling pressure is needed to push price out of that zone.

GER30
Dominant bias: Bullish  
On the daily chart, the bias on GER30 remains bullish. However a closer look at lower timeframes reveals that price is being corrected. Last week, a clear bearish correction was witnessed on the 4-hour char, though that is not yet strong enough to pose a serious threat to the bullish bias on the daily chart. This week, the current bullishness in the market would be most probably maintained, which cannot be overturned until the demand level at 10100.0 is breached to the downside. 

FRA40
Dominant bias: Bullish
The situation surrounding this market is quite similar to the condition affecting GER30. The bias on the daily chart is bearish, but some correction has been going on a lower timeframe like the 4-hour chart. The bullish bias would continue to be safeguarded irrespective of some transitory pullbacks along the way, except a breach of the demand zone at 4350.0 is breached.


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