Al bad signal yesterday, a substantial reaction followed today. What is our view? This is a rebound in the markets which for the moment does not change the bearish chart picture.
Let’s proceed step by step.
At 4.41 pm on the trading day on 21 December we read the following prices:
Dax Future
15.395
Eurostoxx Future
4.142,5
Ftse Mib Future
26.405
S&P 500 Index
The expectations for the current year
In red, our annual forecast for the world stock index on a weekly scale for 2021.
In blue the chart of the American markets up to December 17th.
What was our forecast for the current week?
Minimum Monday and maximum Thursday. For the moment, no scenario, neither bullish nor bearish, can be confirmed yet.
A rebound in the markets that for the moment does not change the bearish chart picture. The key levels for the next few days
Dax Future
Very short downtrend until we see a daily close on December 22 above 15,413. Long-lasting downsides only with a weekly close of less than 15,389.
Eurostoxx Future
Very short downtrend until we see a daily close on December 22 above 4.105. Long-lasting downsides only with a weekly close of less than 4,059.
Ftse Mib Future
Very short bullish trend until we see a daily close on December 22 below 26.170. Lasting highs only with a weekly close above 27,315.
S&P 500 Index
Very short downtrend until we see a daily close on December 22 above 4,667. Long-lasting downsides only with a weekly close below 4,540.
Current position for multidays trading:
Flat from this morning opening and awaiting developments.
How could Wednesday’s trading day be played out?
It is difficult to make a reliable forecast on how the price dynamics could present themselves. In such a context, it is better to stay on the sidelines waiting for developments.
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