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Monthly Forecasts for CFDs (March 2017)

Wednesday, March 1, 2017 18:32
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(Before It's News)

AUS200
Dominant bias: Bullish
While this market went bearish in January, it went bullish in February. In the context of an uptrend, price was corrected last week, and then started March on a bullish note. The outlook on the market is bullish, and there is a possibility that the resistance lines at 5775.00 and 5800.00 would be tested. The ultimate target for this month is 5831.42, which was the high of last month. This means that price could meet some challenge at the resistance line resistance line of 5830.00, but a strong buying pressure could make price go above it.

SPX500
Dominant bias: Bullish
SPX500 is a very interesting market. Price has gone seriously upwards, just as it was forecast last month. Actually, the current bullish movement started in November 2016, following a long –term consolidation in the market. Since then, the market has gained 3700 point (since the low of November 2016). In February 2017 alone, the market gained 900 points. Having begun March on a strong bullish note, further northward movement is anticipated, which may push price towards the resistance levels at 2400.0, 2500.0 and 2600.0.

US30
Dominant bias: Bullish
It is no big surprise that the movement on US30 is quite similar to the movement on SPX500. Since November 2016, price has moved upwards by close to 3700 pips (starting from the low of November 2106). The market gained more than 850 points in February 2017 – with little retracements along the way – and again trended significantly upwards this week. Since price has gone above one accumulation territory after the other, it is assumed that, it would eventually reach the distribution territories at 21500, 22000 and 22500 in March and/or April.

GER30
Dominant bias: Bullish
This trading instrument is volatile but bullish. Just as it was mentioned in the last forecast, price went upwards in February, in conjunction with the bullish movement that started a few months back. This has resulted in a vivid Bullish Confirmation Pattern in the market; and despite some bearish retracements that would be transitory, the overall movement in the market would be bearish this month. The next targets are located at the supply levels of 12100.0, 12300.0 and 12500.0. The bullish outlook cannot be rendered invalid until there is at least, a 1000-point movement to the downside.

FRA40
Dominant bias: Bullish
FRA40 went bearish in January this year, which almost forced a bearish outlook on the market. In February, the market made some bullish attempt and then started coming down from February 16. Last week was particularly bearish, but further bearish movement was rejected at the demand zone of 4840.0. Price bounced upwards from that demand zone (February 24), consolidated this Monday and Tuesday, and then broke out northwards on Wednesday (March 1). This could be the beginning of a serious bullish journey, which may enable price to reach the supply zones at 4990.0, 5100.0 and 5050.0.

Source: www.tallinex.com



Source: http://www.traderslaboratory.com/forums/technical-analysis/20600-monthly-forecasts-cfds-march-2017-a.html

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