Stocks: ranging through Easter amid risk events?

The major stock indices I have on my 4hr MT4 charts are consolidating within 4hr chart triangles during this Easter week and amid various geo-political risk events; Syria, North Korea and the Turkish Referendum as just a few. All of these patterns offer a fair bit of room for ‘more of the same’ and I would expect as much with the lighter trading over Easter unless, of course, a major risk event is triggered. The drill is the same across all of these charts: watch for any momentum-based trend line breakout.

ASX-200: the 5,800 break represented a major break of an 11 year bear trend line. The psychological 6,000 is now ahead of price action.

ASX-200 4hr:

ASX-200 weekly: you can see that 6,000 is long-term S/R on this index:

DJIA 4hr:

S&P500 4hr:

NASDAQ 4hr:

FTSE 4hr:

DAX 4hr:

 

By Mary McNamara

Source: tradecharting.com

Leave a Reply