Technical Analysis

Dow Jones, S&P 500, DAX and Nikkei Technical Outlook

Inventory Market Technical Outlooks:

The Dow Jones will look to consolidate features above 26,000

Germany’s DAX seems to breakthrough longer-term resistance

The Nikkei seems to proceed its upward churn

At a time when elementary dangers appear to be in flux, the technical panorama for international indices is comparatively concrete and appears skewed to the draw back. Observe me on Twitter @PeterHanksFXto take part in polls that may dictate what indices seem within the weekly outlook.

S&P 500 Value Chart: Four-Hour Time Body (October 2018 to February 2019) (Chart 1)


The S&P 500 trades narrowly under a resistance trendline that has held since October 2018. The trendline has rebuked the index 3 times and should look to take action once more subsequent week. Additionally within the space is the 76.Four% Fibonacci retracement stage from October’s excessive to December’s low. When mixed, the 2 technical ranges create vital resistance across the 2,792 and a couple of,805 ranges. Equally, 2,800 is a notable psychological stage for the index.

On the lookout for a elementary perspective on fairness? Take a look at the Weekly Fairness Elementary Forecast.

Dow Jones Value Chart: Four-Hour Time Body (October 2018 – February 2019) (Chart 2)

Dow Jones

The Dow Jones additionally trades close to a notable psychological stage after it closed above 26,000 on Friday. The extent might now present a semblance of help however such a slim shut above isn’t confidence inducing. Nonetheless, it’s a stage to be careful for. Equally, help rests close by on the 76.Four% Fibonacci retracement round 25,652. The extent is joined by a trendline originating from early January.

Dax Value Chart: Four-Hour Time Body (October 2018 – February 2019) (Chart three)


The German DAX is nearing longer-term resistance from June 2018. The trendline seems to be the primary hurdle on the highway increased. Assist will be discovered round 11,400, a swing excessive from early February and a stage that supplied average help final week.

Nikkei Value Chart: Four-Hour Time Body (December 2018 – February 2019) (Chart Four)


In latest weeks, the Nikkei 225 has discovered itself in a sluggish churn upwards. The following stage of resistance seems to be round 21,540, a value the index has not crossed since mid-December. Assist resides within the decrease sure of the channel

–Written by Peter Hanks, Junior Analyst for

Contact and comply with Peter on Twitter @PeterHanksFX

DailyFX forecasts on a wide range of currencies such because the Pound or the Euro can be found from the DailyFX Buying and selling Guides web page. Should you’re seeking to enhance your buying and selling strategy, take a look at Traits of Profitable Merchants. And if you happen to’re searching for an introductory primer to Forex, take a look at our New to FX Information.

Different Weekly Technical Forecast:

Australian Greenback Forecast – AUD/USD, AUD/JPY and AUD/NZD Eye Development-Forecasting Patterns

Oil Forecast– Bears Might Need to Flip Away, Momentum is Right here

British Pound Forecast – Promoting Off Into Assist

US Greenback Forecast – Greenback Faces Volatility Potential however Breakout and Tendencies are Nonetheless Far Attain

Gold Forecast– Costs Might Be Readying to Reverse 6-Month Dominant Uptrend

Euro Forecast – EURUSD Weekly Technical Forecast: Euro to Weaken in Days Forward

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