FTSE-100 year 2017 outlook-heading for 7650-8200 levels
FTSE 100 Index this week closed with gain. This was sixth gaining week for FTSE 100 future. In these six weeks this index rallied from lows of 6700 to high of 7300+. 600 pints rally in 1 and half month is phenomenal. For 2017, FTSE 100 index major support as well as breakout level was 6580. Above it this index future will remain buy on dips for investors and expect target of 7650 and then above it next target will be 8200 for this year. Weekly chart momentum is strong bullish and look like FTSE 100 might achieve 7650 in short to medium terms. Below 6580, on weekly closing basis FTSE 100 turn bearish and sell for long term and targets will be 6050 to 5000 in that scenario. From short term view, FTSE 100 achieved my target of 7280 and now heading for 7450 zone. FTSE 100 is in Bull Run on daily chart and in last 28 session 25 sessions ended with gains.
CAC index 2017 outlook-heading towards 5170-5500 levels
CAC index this week closed with gain at 4922. This was sixth positive week for this French major index. CAC is also in trending higher with great buying momentum. In last 6 weeks or one and half month’s index soared from lows of 4500 to almost 4950. For 2017, CAC index price trend and momentum both are strong bullish. 4550 was major support and we saw long term bullish breakout above it and now cac is heading towards long term technical targets of 5170 and then 5500. Weekly closing below 4550 might trigger downtrend for targets 4200 and 3560. CAC index from short term view, heading towards my targets of 4970 and 5100.
Dax 30 index 2017 outlook-heading for 12400-13300 targets
DAX 30 index this week closed with gain. This was sixth positive week for dax and in these 6 weeks we saw 1300 points rally. From low of 10400 to highs up to 11700, DAX 30 index has given dream run to investors. DAX 30 index long term price trend and momentum both are strong bullish. On downside 10550 was major support as well as breakout level. Above this level, DAX 30 index 2017 technical targets comes around 12400 to 13300 and dax slowly and steadily moving towards it. For next week, DAX 30 index is looking bullish and after last week’s consolidating will head towards my short term target of 11800 to 12190 levels.