FTSE 100, NASDAQ 100, DOW JONES WEEKLY FORECAST
- The Dow Jones sells at record levels having a possible resistance faintly overhead
- The FTSE 100 might seek to strengthen before expanding its bullish breach out
- Share marketplace outlook: 3 shares to observe in the coming week
Dow Jones Technical Outlook
Dow Jones relaxes around record levels after dealing higher – nearly with no incident – since the start of Nov. while the key landscape might provide cause for distress, the technical forecast remains broadly encouraging. The index advances to record high-highs while it pushes more to uncharted territory. That stated probable resistance might reside faintly overhead. The Fibonacci level at 161.8% copied from Sep high towards Oct low rests around 31,130 and has provided some sense, which will appear to defy a progression higher. Faintly northward resides a trendline fashion derived from the Jun as well as Sep shift-highs, which might also offer challenges for the Industrial Average of Dow Jones.
Moving on, the index is enjoying a bounty of the arm by comparison. Early sections might exist around fifty-day SMA as well as psychological 30,000 marks close. Alongside, they will seek to charge off a greater downturn, which may observe the DJIA take target around 29,568, the Feb high, or 29,197 the Sep peak. Both ways, the current price act implies the way of less resistance is higher.
Dow Jones Chart
Nasdaq 100 Technical Outlook
Nasdaq 100 is in the same position dealing around record levels headed towards the week. Overhead resistance is fundamentally nonexistent around this point; therefore classifying fundamental levels is arduous. Also, psychological levels such as 13,000 as well as 13,500 might start to catch weight as a result. Months of profit have nonetheless formed a pattern of supportive areas, which can be observed for help should trading materialize. The current high around 12,953 and the Fibonacci level as subsequent arm could relax around 12,800 where a rising trendline dissolved from the Nov. lows rests may provide the first support.
Setbacks might act as healthy strength at this phase.
Nasdaq 100 Chart
FTSE 100 Technical Outlook
The FTSE 100 is enjoying a crucial rally in the previous week, pressing above resistance for taking target around the 7,000 marks for its 1st time since Feb. currently, the index is boosted by the close arm and a current golden cross formation that typically indicates a moment of increasing prices. Aside from this golden cross, the 20-day SMA, as well as fifty DMA themselves, might offer consistent arms in the coming days and would assist take the FTSE 100 higher.
Moving on, the index might be a week to consolidate in the coming days as it discusses overbought territory. Because there is less to imply that FTSE 100 assembling will stop here, setbacks in the near-term might offer a chance for lesser entry points.
On the flip side, initial resistance rests around the 7,000 marks.
FTSE 100 Chart