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Thursday, December 1, 2016

Monthly Forecasts for CFDs (December 2016)

AUS200

Dominant bias: Bullish
On November 9, AUS200 dipped massively, reaching a low of 5042.00. Since then price has climbed numerous resistance lines (now support lines) gaining roughly 4500 points. Since the bias on the market is bullish, it is expected that price would continue going upwards till the end of the year. While there may be pauses, consolidation, and transient corrections along the way, the market is expected to reach the resistance lines at 5530.00, 5560.00 and 5590.00.




SPX500
Dominant bias: Bullish  
This market trended south in the first few days of November, and then gapped upwards, assuming a strong bullish movement. The bullish movement was briefly interrupted on November 9 as price became extremely volatile, reaching a high of 2170.3 and a low of 2031.9. Since then price, has trended northward smoothly, reaching the resistance level at 2210.0. Attempt to close above that resistance level is currently not successfully, but that goal would be achieved this month, as price goes upwards towards the resistance levels at 2230.0, 2260.00 and 2290.0.

US30
Dominant bias: Bullish
What happened to US30 last month was quite similar to what happened to SPX500. Price trended downwards from November 1 to 4, and the gapped upwards to start a noticeable bullish journey. Price plummeted on November 9, reaching a low of 17478, owing to the US presidential elections results. From that low, price has appreciated more than 1780 points, to close at 19161 on November 30. There is a strong Bullish Confirmation Pattern on the market and the rest of this year would be bullish as price trudges towards the distribution territories at 19300, 19500 and 19700.

GER30
Dominant bias: Neutral  
Unlike SPX500 and AUS200, GER30 did not do much in November. Price did start trending downwards for a few days, gapped up later and became seriously volatile on November 9. The market dropped like stone and quickly recovered – a kind of flash crash. Since then, price has entered an equilibrium phase, bringing about a neutral bias on the market. Now, there is a base, and a rise in momentum would force price to go out of that base, and when that happens, it would most probably favor bulls. The supply levels at 10700.0, 10750.0 and 10800.0, would likely be tested within the next several weeks.  

FRA40
Dominant bias: Bullish
Interestingly, FRA40 almost did what GER30 did last month. It went south in the first few days of November, gapped upward, started a bullish journey, only to experience a flash crash on November 9. The market has recovered and it is currently making some attempts to go higher and higher, though bears are not making that an easy task (which explains the current choppy market condition). Since the outlook on the market is bullish, it is expected that price would somehow go upwards this month, maintaining the bullish outlook on it.  


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