Skip to main content

S&P/ASX 200 forecast for coming week ended 20th July, 2012.

S&P/ASX 200 is still in uncertain zone in respect of its trend. If it would break 4100 level convincingly then I will be emphasizing more on reverse symmetrical triangle than bullish pattern but right now I am not completely sure what it is going to do.
One thing is good that it has not tested its previous low of around 4000 level, in fact move in the last day was better. As it looks like that it is trying to make some kind of base here. S&P/ASX 200 is in over-sold zone so from here if it again breaks 4100 level then new optimism will arise about that bullish pattern which can take it around 4300 level.
But if it gets resistance around this 4100 level in early to middle days of the coming week then there is more chance that it may drop. The reverse symmetrical triangle which I am talking during past few weeks also demands that S&P/ASX to fall from here. In the downside if it comes close to 4000 level then there is a strong chance of making a bearish pattern which can take it towards 3850 level but it needs more time to prove.

NOTEPlease see the disclaimer of this blog.


Popular posts from this blog

DAX forecast for coming week ended 15th March, 2013.

This week was very good for Dax, though it is getting resistance at 8100 range. Now it has a chance to test downside again. I think even if Dax tests lower levels, it has more chance to bounce back from around 7800 range and therefore it will again test upside.

On the other hand if it shows flat movements around 8000 range in initial days of the coming week then there is a chance that it may take a decisive call in later days. Considering the recent trends it has the chance to test higher levels may be around 8200 but that will be a very aggressive call after taking in to account the movement from last December. I will worry about the downside when Dax will be testing levels below 7600 ranges.
NOTE: Please see the disclaimer of this blog.

Fed’s rate hike Vs Sovereign rating up gradation

Financial market is very much worried about the rate hike in US, probably this is going to come in coming December. But I think that is not going to change much of the things. Even Fed hikes rate in December it will be not so much, because we are forgetting one thing that interest rate in US is around zero so even they hike rate by 0.25-50% basis points (at most) in this year that will not be enough cause for Dollars to change their locations around the world especially markets have already discounted this coming rate hike in US.

A new disaster is coming in EU banking sector, whom to blame, big Audit firms!

First I was thinking what should be the title of this posting? Will it be good if I write that big audit firms set the time for EU bank collapse! If someone is thinking that financial crisis is over then think twice because the coming EU banking crisis is no way less than 2008 financial crisis. The time bomb will explode at some point of time in future, the time has not yet set for it. In that tsunami, forget about the smaller if any major banks collapse then I will not be surprise.