S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Facts:
- RSI [14] indicates a level of around 44.
- Williams %R [15] indicates a level of -73.
- Price defended the level around 28,300 (EMA100 average).
Recommendation:
- Long position (buy) on US100 at the market price.
- Target price (Take Profit, TP): 31,750
- Stop Loss (SL): 27,750
US100 (D1)
Source: xStation5 OPINION : The price of the contract on Wall Street’s main technology index has been moving within a descending channel over the past 2 months. Strong resistance at the EMA100 average, combined with the RSI and Williams indicators, creates favorable conditions for an upward corrective move.
Methodology and assumptions:
- The recommendation is based on technical analysis of the chart, in particular EMA averages and Fibonacci levels.
- The target level was determined based on Fibonacci levels.
- The protective stop-loss order was set based on a favorable risk-to-reward ratio and on a Fibonacci level.
