Although the great and the good of the financial world may be warning of a top, I and my fellow TA commentator Dominic Picarda see only a continuation of soaring indices. Of course there is the potential for a banana skin such as a continuation of the tapering in the US that may kill off the extended rally but for now, from a charting perspective, all I can see is blue sky.
CLICK THE IMAGE ABOVE TO VIEW THE VIDEO
FTSE 100:
Rising June Price Channel
Bull flag breakout pointing towards what would be a record 7,000 destination
Support towards 20 day moving average at 6,683
Dax:
Rising July price channel
Latest unfilled gap to the upside implies a 10,000 + target
Initial support towards 10 day moving average at 9,529
Dow:
Rising October price channel / extended RSI uptrend line from August
Fresh buy trigger on the latest break above 10 day moving average at 10,432
Implied upside to 17,000 at 2013 price channel top
S&P:
Rising April price channel targeting as high as 1,900
Initial support zone at 20 day moving average / 1,830
Only a move well below 1,800 price channel floor currently delays upside scenario
TO RECEIVE MY NEW BOOK ON TOP 5 CFD SHORTS, CLICK BELOW