Here’s the market outlook for this month: Content courtesy of Tallinex Limited https://www.tallinex.com
AUS200Dominant bias: Bullish
AUS200 declined last month to a low of 5040.0 after reaching a high of 5393.0. That southerly move threatened the bullish outlook on the market, but the recovery during the last few days of June has upheld the outlook and price is expected to trend further north this month to target the distribution territories at 5440.0, 5540.0 and 5640.0.
SPX500
Dominant bias: Bullish
This market moved sideways during the first half of June; then broke down on June 23 and 24 to halt the bullish attempt beforehand. The bias would have turned bearish if price had continued southwards, but it started to recover the following week. The outlook on the market is still bullish, which should continue upwards with intermittent pullbacks.
US30
Dominant bias: Bullish
Movement was essentially bearish last month, but bulls were able to recover some of their losses as price skyrocketed some 9000 points from the monthly low of 17059.0. Recovery is in progress and price may still move north another 4000+ points this month. The best trading approach would be to buy fleeting pullbacks - especially when they are followed by a bullish candle on the 4-hour chart.
GER30
Dominant bias: Bullish
GER30 experienced a large pullback on June 23 and 24 as price plunged into very formidable demand zones and was forced to spring back up - followed by a smooth bullish recovery as price climbed almost 5000 points last week… but it is yet to reach the 10470.8 high of June 23. That is the minimum target for bulls this month, and gradual recovery will continue until that level is reached or exceeded.
FRA40
Dominant bias: Bullish
From a low of 3919.9 on June 24, a journey of recovery (still in progress) began. Price closed at 4257.4 last week on a bullish note, so the targets for this month are located at the resistance lines of 4370.0, 4450.0 and 4500.0. This does not rule out possible bearish activity, but bulls should be clearly victorious by the end of July.
Azeez Mustapha
Currency Analyst
Tallinex Limited
The Jaycees Building, Stoney Ground
PO Box 362, Kingstown, VC0100
St Vincent and the Grenadines
https://www.tallinex.com
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