#Gold #SP500 Every now and then, stories in the media rumble about Germany and her apparently failing economy. Sometimes the level of hysteria is so absurd, Poland must be carefully watching her borders… . Our April analysis successfully gave upward targets for the DAX. For now, there seems there is a viable threat to exports if the UK Brexit thing goes ahead without trade agreements in place and the chart for The Dax is certainly not terribly encouraging.
To cut to the good stuff, weakness now below 11,550 looks capable of reversal to an initial unspectacular 11,250 points. If (or rather when) broken, secondary calculates down at 10,775 points, along with a challenge of the market uptrend since 2011. Only a break of this uptrend would justify some real hysterics as the index would shuffle into a zone where 7,100 presents a fairly reasonable longer term bottom.
We’ll admit, currently, 7,100 does not appear visually likely. Instead, we suspect 10,775 shall provide some sort of bounce in the months ahead. To get out of this mess, the index needs better Blue on the chart, 12,650 at time of writing.
If we look for early warning signals which will suggest a miracle, Germany requires better 12,160 as this will suggest coming recovery to 12,400 points. Better still, movement above this level calculates with 12,950 along with the promise of further strong recovery.
For now, it’s regarded as heading to 10,775 eventually!
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:14:40PM |
BRENT |
58.3 | |||||||||
|
10:31:12PM |
GOLD |
1511.84 |
1499 |
1492 |
1483 |
1512 |
1515 |
1520.5 |
1532 |
1499 |
Success |
|
10:33:04PM |
FTSE |
7213.27 |
‘cess | ||||||||
|
10:35:09PM |
FRANCE |
5294.7 |
‘cess | ||||||||
|
10:38:36PM |
GERMANY |
11638 |
Success | ||||||||
|
10:43:24PM |
US500 |
2882.97 |
2872 |
2851.5 |
2821 |
2909 |
2909 |
2920 |
2936 |
2889 |
Success |
|
10:46:39PM |
DOW |
25899 |
Success | ||||||||
|
10:52:05PM |
NASDAQ |
7565.02 | |||||||||
|
10:54:30PM |
JAPAN |
20291 |
‘cess |