Last days on S&P500 and DAX indices were just as I predicted. DAX futures tested resistance at 10,500 pts and rebounded from that level. The same situation on S&P500 which tested key resistance at 2,100 pts and went down. Draghi didn’t pull out any new weapon. The speculations about „helicopter money” weren’t completed. High volatility showed up on EURUSD, in two hours there was bullish move of 100 pips and then come back to the previous level.
YOU CAN START TRADING ON FOREX MARKET USING FREE XM BROKER ACCOUNT.
As I pointed out in earlier analysis both DAX and S&P500 are next to key resistances and it doesn’t look like breaking them will be a piece of cake. I believe there are two scenarios of continuing bullish trend:
- For the few sessions indices will decrease range of moves and there will be consolidation on current level and break above.
- There will be dynamic downward movement after which gains will come back and break important resistances showed above.
If 2nd scenario will be true, bear should be in control till FED decision next week. DAX future supports: 10,275 pts, 10,100 pts. The closest resistance 10,500 pts.
