Major Trend Line Support Across Indices | Vantage FX

Major Trend Line Support Across Indices

January 19, 2016

With all major stock indices sitting at major support levels on their weekly charts, are you positioned to take advantage of any impending breakout to the downside?

Bring up your weekly charts and add the following levels to your watch-list.

SP500 Weekly:
Indices chart, SP500 Weekly, 160119
Click on chart to see a larger view.

DAX30 Weekly:
Indices chart, DAX30 Weekly, 160119
Click on chart to see a larger view.

SPI200 Weekly:
Indices chart, SPI200 Weekly, 160119
Click on chart to see a larger view.

Nikkei225 Weekly:
Indices chart, Nikkei225 Weekly, 160119
Click on chart to see a larger view.

Traditionally, markets take their lead from the US and in this case we see the SP500 chart is still sitting above support. If that level goes, you’re going to see stops going off galore and the potential for some serious technical damage being done throughout stock markets worldwide.

I can see the headlines of ‘Bullish Trend Officially Over’ flashing red across CNBC screens already!

Go through and add each of these levels to your Vantage FX MT4 platform then keep an eye on Twitter for discussion around each of the charts as the US returns from a long weekend.

Dane Williams – @VantageFX

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