Key Technical Levels for Major Indices
Recommended by Axel Rudolph
Get Your Free Equities Forecast
Nikkei 225 stays side-linedThe Nikkei 225 has been sideways trading around the 200-day simple moving average at 38,284 but below the 55-day SMA at 38,577 for the past week or so. Were the index to rise above both of the moving averages, the late July high at 39,281 would be next in line.A slip through Monday’s 37,163 low would open the way for the 36,000 region to be revisited.As long as Monday’s 37,163 low holds, the near-term bullish outlook remains intact.Nikkei Daily ChartSource: IG, ProRealTime, by Axel RudolphDow Jones Industrial Average rally runs out of steamThe Dow Jones rally is running out of puff with low volatility and volume trading being prevalent as investors await Fed Chair Jerome Powell’s speech at the Jackson Hole symposium on Friday for more clues about the depth and speed of Fed rate cuts later this year.Nonetheless the late July peak at 41,207 may still be reached. Just above it sits the all-time record high of 41,382. The uptrend should stay firm while 40,606, Monday’s low, contains downside.Dow Jones Daily ChartSource: IG, ProRealTime, by Axel Rudolph
Recommended by Axel Rudolph
Building Confidence in Trading
Nasdaq 100 rally is slowing downThe Nasdaq 100’s rise above the 55-day moving average at 19,528 and the 19,577 late July high has put the 20,006 June high in its path.Previous resistance around 19,577-to-19,501 should now flip to support as per the inverse polarity principle where previous resistance tends to act as support and vice versa.Nasdaq 100 Daily ChartSource: IG, ProRealTime, by Axel Rudolph
element inside the element. This is probably not what you meant to do!
Load your application’s JavaScript bundle inside the element instead.
Source link
