Monthly Forecasts for CFDs (February 2017)

AUS200

Dominant bias: Bearish

The market was mostly bearish in January, and that was strong enough to bring about a bearish outlook on the market. Although volatile, price has not trended significantly in February, but it is more likely that further bearish movement would be witnessed. The current bearish outlook would remain valid until price is able to break the resistance line at 5800.00, an occurrence that would require a strong bullish pressure. Normally, the resistance lines at 5600.00, 5500.00 and 5000.00 could be reached.

SPX500

Dominant bias: Bullish

SPX500 is neutral in the short-term, but bullish in the long-term. Price consolidated mostly in January – an event that is still in place. The consolidation is in the context of an uptrend, and it is seen as a mere pause. A rise in momentum is expected soon, and it would most probably be in favor of the long-term bullish outlook. A movement below the support level at 2250.0 would render this expectation ineffectual, while the expectation would be effectual as long as price does not break the support level to the downside. Possible targets for this week are around the resistance levels at 2350.0, 2400.0 and 2450.0.

US30

Dominant bias: Bullish

The movement on US30 is quite similar to the movement on SPX500. Price went flat throughout January, while the dominant bias remains bullish. Price has formed a base as a result of the recent flat movement in the market, and the base would be in place until a strong movement happens in the market, which would most probably shoot price northwards. The distribution territories at 20500, 20600 and 20700 could be easily attained this month. A movement below the accumulation territory at 19600 would lead to a bearish signal.

GER30

Dominant bias: Bullish

This trading instrument is in a bullish mode, which was started by the strong rally that happened in November 2016. Price consolidated in January 2017, and attempted to rally on January 25, but further bullish movement was rejected at the supply level of 11900.0. The market would attempt to rally again this month, reach the aforementioned supply level and then go further upwards towards another supply levels at 12000.0 and 12050.0. Nonetheless, this would require a strong buying pressure to achieve – especially a breach of the supply level at 12000.0.

FRA40

Dominant bias: Bearish

FRA40 rallied in December 2016, forming a bullish bias: But the perpetual bearish movement in January 2017 has led to a Bearish Confirmation Pattern in the market, which is still a kind of new, and which has much room to go. From the beginning of the year, price has come down more than 1400 points, and there is a possibility that it may reach the demand zones at 4700.0, 4650.0 and 4600.0. The only thing that can render this expectation invalid is a situation in which price rallies again by at least, 1400 points, bringing about a bullish bias again.  

Source: www.tallinex.com

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