AUS200
Dominant bias: Bullish
The market consolidated from
March 3 to 27, and then moved upwards protractedly till the end of March. The
bullishness in the market is still being preserved, though things are choppy
and volatile at the present. In April, it is expected that price would continue
going upward, and gradually. The resistance lines at 5900.00 and 5950.00 are
the immediate targets for bulls. The ultimate target is the resistance line at
6000.00. As price journeys upwards, there would be occasional pullbacks along
the way – and some can even be large.
SPX500
Dominant bias: Bullish
SPX500 underwent some bearish
correction throughout March 2017, but that was not significant enough to pose
any threat to the dominant bullish bias, let alone invalidating it. Right now,
the bearish correction is still in place, and it might continue this month (until
something fundamental forces price to change its course). A movement below the
support level at 2300.0 would threaten the bullish bias; while a movement below
the support level at 2200.0 would result in a clean bearish outlook on the
market. Unless these support levels are broken, any bearish corrections would
be viewed as transient.
US30
Dominant bias: Bullish
As usual, the movement on
SPX500 is essentially similar to the movement on US30, since the conditions surrounding
both markets are the same. US30 consolidated throughout last month, as bears
subtly pushed price gradually south. The downwards correction is still in
place, and it might end becoming an opportunity to go long at better prices.
The bullish bias would continue to hold as long as price does not go below the accumulation
territory at 20000; though the accumulation territories at 20500 and 20300
could be tested temporarily.
GER30
Dominant bias: Bullish
This market was able to
continue its bullish movement last week. The bullish movement started in 2016,
and there is still much room for further bullish movement. Last month, price
reached a low of 11847.3 and a high of 12342.9. A movement below the low of
last month would result in a bearish signal; while a movement above the high of
last month would result in stronger Bullish Confirmation Pattern in the market.
Given the current price action, a movement to the upside is the most likely. Eyes
are on the supply levels at 12300.0 and 12500.00.
FRA40
Dominant bias: Bullish
FRA40 was able to avoid a
major pullback in March, as it reached an equilibrium phase. Price broke to the
upside on March 27, rallying till the end of the month. There is yet to be a
directional movement so far in this month, but price is playing itself out in
the context of an uptrend. It is expected that price would go out of balance
again, and there is a probability that the breakout would be in favor of the
existing bullish bias. While there also would be some corrections in the
market, the supply zones at 5150.0, 5200.0 and 5250.0 could be reached before
the end of this month.
Source: www.tallinex.com
Traders’ Mindset: Traders' Mindset
