Alpari - Analytics


841.25 6.25/10
73% of positive reviews

Daily analytical report (26/10/18)

  • So, is this it? The official start of the bear market? One thing for sure is that for the past few weeks we have been in a correction stage, but it seems that the correction has turned into a proper downward trend. Interestingly, we do not have any major fundamental events that could have triggered this. Italy? The rising rates in the US? Oh please, that is not enough. Something should come up soon, and Deutsche Bank looks promising.
  • SP500 is officially negative for 2018. The price broke the major upwards trend line and then tested that as a resistance. The test was positive for sellers and resulted in a further drop. The next target is the yellow area around 2,560.
  • Next up is DAX, where we are worse off than SP500. Here, the price is under the influence of a huge head and shoulders pattern – a proper trend reversal formation. The neckline was already broken and tested as a resistance. The sell signal is ON!
  • Lastly we have the NIKKEI, where the price is moving similarly to the SP500. Here we also broke the upwards trend line, and are aiming towards the horizontal support. In this case, it is also marked in yellow and is at 20,300 points. The chances of us getting there are quite high!

To leave a comment you must or Join us

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree