AUS200
Dominant bias: Bullish
This market is bullish as well
as volatile. Price swung wildly upwards and downward in April, and it has
started pulling back again this week (all in the context of a bullish bias).
This month, the volatility would continue as price continues its wild upswings
and downswing, while the general movement would be bullish. From the low of
April (5912.92), price is expected to gain at least, 5,000 points this month,
breaking one resistance line after another. However, this is going to be a pyrrhic
victory because bearish forces would constantly cause transient pullbacks,
which would be large in some cases.
SPX500
Dominant bias: Bullish
SPX500 has been able maintain
its bullish trend so far. In April, price dropped roughly 650 points, reaching a
low of 2299.7 on April 12. The market has gained about 930 points since then,
emphasizing its bullishness. It is possible for new highs to be made this
month, though there could also be temporary bearish corrections along the way.
The bearish corrections are not expected to take price below the support level
at 2299.0, which is a formidable support level indeed. In the next several months,
the market would probably enter into an extended equilibrium phase, which would
be in the context of an uptrend.
US30
Dominant bias: Bullish
US30 experienced three flash
crashes on April 6, 10, and 13. It is interesting to note that the three flash
crashes were all contained at the accumulation territory of 19277 (The only two
major pullbacks that occurred on SPX500 on April 12 and 13 were each contained at
the same support level of 2299.7). So, the accumulation territory at 19270 has
become serious barrier to any future bearish trends. From the low of 19277,
US30 has gained 1700 points. The market is supposed to go further north this
month, reaching an initial target at the distribution territory of 21065, which
was the high of April.
GER30
Dominant bias: Bullish
This market has been in a
persistent bullish trend since the middle of 2016, and price has gained roughly
9,800 points this year alone. In April, price went south from the beginning of
that month till April 18, after which it started journeying upwards again, gapping
up massively on April 24, and sprinting further north. There are huge Bullish
Confirmation Patterns in the 4-hour and daily charts, which predict further
gains this month. Price is already at the highest that has been seen this year,
and it may go towards the supply levels at 12550.0, 12600.0 and 12650.0.
FRA40
Dominant bias: Bullish
FRA40 moved sideways within
April 4 – 12; and went visibly bearish from April 13 to 18, after which it
began to trend upwards. There was a gap-up on April 23, which has never been
filled, because price went further upwards, closing at 5264.0 at the end of
April. This month, price has gone beyond the closing price of April. As there
is a clear bullish outlook on the market, it may gain a minimum of 1000 points
this month (amid stealth attacks from bears). Price could enter a prolonged
sideways movement within the next few months, but the bullish outlook on it
would remain intact.
Source: www.tallinex.com
Traders’ Mindset: Traders' Mindset
Good analysis. Keep up the good work
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