Strength in SP500 is likely to continue. We see a less chances of an immediate fall on the instrument for short-term technical outlook. Next upside barriers follow (1320.2) at (1333.3) and (1338.3).
We see better value in long positions. If the price will advance above the first resistance at (5772.2), this would confirm continuation of the bullish trend, towards next objective upwards (5683.8) then (5657.8) and (5605.8) will follow.
The outlook has grown increasingly bullish since DJI30 had remained above its latest swing low at (12567). If this support level is broken to the downside, the outlook will deteriorate.
We believe that possible bullishness could be seen during this trading session. Support is at (6363.0). Break below that area could lead us to neutral zone as direction would become unclear, but as long as price moves above that level the major scenario remains bullish.
We can say that additional bullish movements could be seen during current session, particularly if it succeeded to stabilize above (5735.0) zones. A proper confirmation would occur if the FTSE100 will manage to overcome the (5805.8) resistance.
We can say that additional bullish movements could be seen during current session, particularly if it succeeded to stabilize above (1305.9) zones. A proper confirmation would occur if the SP500 will manage to overcome the (1328.4) resistance.
The outlook has grown increasingly bullish since CAC40 had remained above its latest swing low at (3283.2). If this support level is broken to the downside, the outlook will deteriorate.
Currently, further bullish actions could be seen on FTSE100. A break below (5721.0) could be a threat to the bullish scenario targeting (5627.4) even (5601.4). On upside. Immediate resistance is at (5804.0). A close above that area should keep the major bullish scenario intact testing (5871.8) area.
We see better value in long positions. If the price will advance above the first resistance at (12754), this would confirm continuation of the bullish trend, towards next objective upwards (12615) then (12574) and (12466) will follow.
We can say that additional bullish movements could be seen during current session, particularly if it succeeded to stabilize above (1302.4) zones. A proper confirmation would occur if the SP500 will manage to overcome the (1323.3) resistance.
