AUS200
Dominant bias: Neutral
In the last few months, AUS200
has been in a neutral phase. The market is quite choppy, rough and
unattractive, oscillating upwards and downwards with no directional movement.
The choppiness and neutrality of the market is expected to continue for most
part of September, as price fails to reach a serious imbalance. Last month,
price reached a high of 5812.80 and a low of 5624.20. Therefore, there is a
need for price to stay below the low of August or above its high, before there
can be a directional bias (which would most probably happen before the end of
September or in October).
SPX500
Dominant bias: Bullish
SPX500 generally went bearish
in August, losing roughly 500 pips, and reaching a low of 2418.6. From that low, price gained 500 points, to
close the month of August on a bullish note (and that rally in the last few
days of the month has already helped remove the threat against the recent
bearish bias). The bullish movement is supposed to continue this month, and
price could test the resistance levels at 2480.0, 2490.0, and ultimately,
2500.0. It is unlikely that price would be able to breach the resistance level
at 2500.0 to the upside, because further bullish movement would be rejected at
that point.
US30
Dominant bias: Bullish
US30 is currently bullish, but
just like SPX500, it underwent some selling pressure in August. Price topped at
22189, and then went southwards by over 500 points, reaching a low of 21614.
Further southwards movement was rejected at that low, and price began to make
gradual recovering (owing to visible bullish efforts in the markets); thus
saving the ongoing bullish outlook on the market, which has been in place since
last year. Price is expected to continue edging upwards slowly and steadily,
reaching the distribution territories at 22000, 22100 and 22200. These are the
initial targets for the month.
GER30
Dominant bias: Bearish
This unique market has become
bearish since July 2017 (12679.0), and from the high of that month, price has
lost more than 6000 pips. There is a Bearish Confirmation Pattern, both in the
daily chart and the 4-hour chart, signaling further bearish movement in
September. The bearish bias on the market cannot be rendered completely invalid
until price goes above the high of July (12679.0). The first target for this
month is the demand level at 11865.5 (the low of August), after which price
would go towards other demand level at 11800.0.
FRA40
Dominant bias: Bearish
FRA40 is a bear market –
although volatile and choppy. Price has lost over 4,000 pips so far, after
reaching the high of May 2017 (5487.7). Given the recent price action, rallies
proffer great short-selling opportunities in the market, forming a series of
lower highs and lower lows. Since the low of last month (4990.7), price has
bounced upwards by 1,400 point, but it got corrected a bit at the end of the
month, starting this month on a slight bearish note. Owing to the current
Bearish Confirmation Pattern in the market, it is anticipated that, at least,
another 1000 points would be lost in September.
Source: www.tallinex.com
Traders’ Mindset: Traders' Mindset
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