Three Bullish Indices

Risk ON mode is back on the market. Surprisingly you can only see that on stocks and indices. On Gold, not so much, which is actually really interesting.
Tomasz Wiśniewski
Three Bullish Indices

Nevertheless, rises on the biggest global indexes is a fact. Gains are supported by the technical analysis too, which should give additional confidence.

We start with the SP500, where buyers used a small pennant formation. Index broke the upper line of this pattern yesterday, which gave us a legitimate buy signal. Chances that we will see new long-term highs soon are pretty high.

Now DAX, which made a use of the flag formation, which we mentioned before in one of our analysis. Flag is a trend continuation pattern, so no surprise that it resulted with the breakout to the upside. Situation here is very similar to this one on the SP500, so bullish.

Last one is FTSE, where we also witnessed the bullish breakout from the flag formation. From the technical point of view, recent rise comes from the false breakout from the big head and shoulders pattern. The price did break the neckline but downswing stopped on the crucial horizontal support. Since that, the price is mostly climbing higher. June is definitely great for this British Index.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US