European markets January 2017 technical view

Ftse Bull Run heading for targets 7290 and then 7450

Ftse Bull Run heading for targets 7290 and then 7450

Ftse 100 index this week closed at 7142 with gain. This was fifth weekly gain for this major market. In last 5 weeks this index rallied by almost 500+ points in one way!! Ftse future is in bullish trend and trending higher with great momentum. Ftse future for month of January remain bullish and buy above 6990 levels. This major month support and fresh buying zone. On upside 7290 and then 7450 are major month resistances as well as target zones in January 2017.   Dax fresh momentum targets 11840 and then 12200

Dax fresh momentum targets 11840 and then 12200

DAX PERFORMANCE-INDEX this week closed at 11481 with gain. Dax 30 index also in strong bullish trend and closing with gain since last 5 weeks. This week opened strong and this fresh buying momentum suggesting big upside targets. DAX 30 index monthly outlook for January 2017 remain bullish. On downside major support is way down at 11120. On upside 11840 and 12200 are resistances as well as target zones for month of January. On long term chart, price patterns are strong bullish and suggesting one way rallies for targets 12400 to 13330.   Cac index bullish momentum targets 4980 and then 5110

Cac index bullish momentum targets 4980 and then 5110

CAC 40 index this week closed at 4862 with gain. This was fourth week of gain. We saw strong upside move around 4500 levels which was fresh range breakout and cac continue that move in this week also. CAC 40 index monthly outlook of January 2017 remain bullish and for stock future strategy will remain buy on dips. On downside 4740 is major support for month and above it major dips will remain as buying opportunity. On upside 4980 and then 5110 are resistances as well as target zones for this month. For 2017, cac looking strong bullish and this weekly chart momentum will take CAC 40 index up to 5185 and then 5510 till year end.

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Pramod Baviskar

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