Skip to main content

S&P/ASX 200 forecast for coming week ended 30th November, 2012.

In my last review I was suspecting that S&P/ASX has a chance to break 4450 levels, it is good to see that it finds the support at around 4350 range. 

At past I was talking that S&P/ASX has a chance of making bearish pattern if it tests below 4300 levels but as it looks like that it has many other options in the downside. S&P/ASX is making lower tops and lower highs and unless it is breaking 4525 in the upside it has less chance to come out from this trend.

In spite of being in over-sold position S&P/ASX was unable to reverse substantially so the first task for it is to maintain around 4400 levels in early days of the coming week, especially crossing 4450 level is vital for it.
On the other hand it may get the resistance here at around 4400 levels and again tests lower levels but there is a good chance that it may not drop below around 4340 levels. Therefore in later days of the coming week it may bounce in the upside. In case if it drops below 4300 then I will think about the medium term bearish pattern, its recent trend also supports that move.

NOTE Please see the disclaimer of this blog.

Comments

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.