DAX is poised for a good reaction upwards.
SP500 broke short term down channel and is working on a reaction. Our target of 1150 has been fulfilled. Maybe 1150 is medium term bottom and we could see a good upward move. More to come over the next few days.
MIB holds 13100 and reacts like all the other markets. Long positions should be carefull and with strict stop 13100.
All markets look like they have bottomed at least for short term. Trend changes to up. Next day or two will show us more info regarding the dynamic of this new trend.
eurusd has found resistance at 1,34 and bounced back. 1,33 zone important support. Indices look strong and although there may be a come back when US markets open, I believe it is more possible to see a couple days at least of a good market reaction upwards. 1150 sp500 very important levels. 13600 MIB last low serves as support. Breaking it is not good for bulls. DAX might visit 5450 to fill the gap but moving lower from 5350 puts the whole upward movement in danger.
ReplyDelete