Weekly review. Silver, NIKKEI, DAX | 23 October 2015

NIKKEI

Monthly: Inside bar from the pivot area 16451-16883 is still being formed. If month closing confirms this - we'll have a very strong buy signal for November -December.

Weekly: the upward swing is not yet been staffed, so we can expect both continuation of growth in the direction of 20645, and a slight growth of High under within the frames of monthly IB (and, afterwards, transfer of the main phase of growth to November ).

daily: we notice clamping of swing spring. If bulls make the first upward crossing (for which they need to break through the last Top 18454), we will have a good acknowledgment of the common determination to the North.

Scenarios: So, we wait for the upward breakthrough of 18454 and then either a strong growth in the direction of 20,000, or continuation of consolidation (within the frames of monthly IB).

solutions:

1) Buy trades aimed at breakdown of 18454 and medium-term holding of positions up to 20645. 2) Conservative traders should wait for the end of the month and enter up in the case of formation of the IB.

DAX30

Monthly the situation is very similar to the one with NIKKEI. Inside bar will be a good signal for the opening of Buy trades.

Weekly: a local descending structure in the phase of the rising swing. This swing can reach the area of 11171.9

Daily:  control resistance - the last top (10185.2)

Weekly review. Silver, NIKKEI, DAX

Scenarios: break above 10185.2 and growth in the direction of 11171.9

solutions:

1) Buy trades aimed at breakthrough of 10185.2 to 11171.9

Silver

Monthly silver is actively moving to the pivot point (18.14), and after breaking it above we will have bullish pattern Over&Under.

Weekly: remember that the same pattern has been formed here a long ago, so we almost have no doubts that buyers will finalize its formation on the monthly chart. The question now is only is the fact whether market will go directly to rollback to the upward entry point ( 14.36, blue arrow), or will first enhance growth to strong resistance area 17.82.

Daily:  bearish IB at the end of the upward swing can cause correction down to zone 14.70. This scenario will be considered in case of breakdown of the bottom wall of the IB (15.93).

Scenarios:

If the price gets under 15.93 - we will be waiting for drop to 14.71 2) In the case of a break above 16.18 - we expect a continued growth to 17.82

 

solutions:

1) Sales aimed at breakdown of support 15.93 with the target 14.71 2) In the case of rising above 16.18 - we should look for entry signal up to 17.82

 

Aleksey Panasenko
FreshForex Analyst
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