Nasdaq Index Price Rebounds from Resistance
The index price announced its surrender to the control of the downward corrective trend after touching the stable resistance at 21860.00, noting that it formed a strong negative attack through which it currently stabilizes below the level of 21020.00.
Expected trading range for today between 20725.00 and 21000.00
Today’s price forecast: Low
Dow Jones Index price suffers heavy losses
The index price was exposed to strong negative pressures during Friday’s trading, with the Stochastic indicator sneaking below the 50 level, which pushed it to break the support of the ascending sub-channel represented by the 44800 level, announcing its surrender to the control of the bearish corrective tendency by providing a price close below the additional support represented by the 44710 level.
Also, the opening of this morning’s trading, with its formation of a strong negative gap and its stability near the 61.8% Fibonacci correction level centered at 43850, confirms the price’s surrender to the negative path, so we expect it to try to form new negative waves that may push it to reach 43660 and 43505, respectively.
Expected trading range between 43660 and 44100
Today’s price forecast: Low
German index price begins negative correction DAX
The index price failed in Friday’s trading to exceed the resistance of the ascending channel represented by the 21900.00 level, forcing it to activate the downward corrective path, to note that it has currently reached 21200.00.
We expect the Stochastic indicator to exit the overbought level, providing the price with new negative trading, forcing it to resume profit-taking operations by targeting the 21050.00 level, and by breaking this level, the negativity may extend towards the support of the ascending channel extending towards 20825.00.
Today’s expected trading range between 21050.00 and 21400.00
Today’s price forecast: Low
