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Valutrades Market Blast Technicals 29 October 2019

   

Welcome to this week’s Market Blast Technicals where we will look at GBPUSD and Indices such as the FTSE (UK100), the DJI (US30), the S&P500 (US500), and the NASDAQ (US100).

29 Oct 2019 Technicals

These days, Fundamentals are often overpowering Technical Analysis but we can study the Major Stock Indices for some opportunities.

Screenshot 2019-10-29 at 09.27.58

Both the S&P 500 and the NASDAQ have broken through resistance and, if you are an investor who likes to “Buy the Dip” in a Bull Run, you will find that the Stochastic Oscillator is a useful indicator for this.

Screenshot 2019-10-29 at 09.28.16

The Dow Jones Industrial Average is consolidating and can offer the same opportunities but beware of the negative effects of Boeing’s share price.

The FTSE, on the contrary, is trending down and Stochastics on the Daily chart shows us an “Overbought” signal.

The downtrend is due to uncertainty in the UK and that the FTSE is calculated using individual company’s Market capitalisation.

This means that when the Pound increases the FTSE often goes down.

In this case, on the GBPUSD Daily chart, the Stochasitic Oscillator is heading for “Oversold” so, with a bit of good news, the bull run may continue.

That’s all for now. Happy trading with Valutrades and we will see you next week.

CFDs and FX are leveraged products and your capital may be at risk.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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