FTSE Trade Indicators for this week | Summary and Q&A

TL;DR

Eddie, head of technical analysis at ADM Investor Services, analyzes the UK FTSE futures, German DAX futures, US SMP futures, and French CAC 40 futures contracts, examining key patterns and potential targets.

Key Insights

• ❓ The UK FTSE futures are caught between bullish and bearish patterns, indicating indecision in the market.
• 🫥 German DAX futures show potential for a market reversal with the bullish piercing line pattern.
• ✋ US SMP futures are challenging the 2019 high again, supported by previous highs.

Transcript

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Questions & Answers

Q: What is the potential target for the reverse Head & Shoulders pattern in UK FTSE futures?

The potential target for this pattern is around 78.85, coinciding with the previous high of the market.

Q: What is the significance of the bullish piercing line pattern in German DAX futures?

The bullish piercing line pattern suggests a potential market reversal as the market turned back up and closed over the key 50% Fibonacci line.

Q: Why is the US SMP futures challenging the 2019 high again?

The market did not rise as far as the middle time of the bullish Andrews pitchfork, but with support from the high of January 2018, it is now challenging the 2019 high once again.

Q: What is the market sentiment in the French CAC 40 futures?

The market is still undecided, with no follow-through to the previous key reversal down. However, it seems to be willing to try one direction at least.

Summary & Key Takeaways

• The UK FTSE futures show indecision between bullish and bearish patterns, with a potential reverse Head & Shoulders pattern forming.

• The German DAX futures exhibit a bullish piercing line pattern, indicating a potential market reversal.

• The US SMP futures present a bullish mariposa pattern, challenging the 2019 high with support from previous highs.

• The French CAC 40 futures show no follow-through to the previous key reversal down, with the market still uncertain.