INSIGHTS
Tue, Sep 17
Equity indices remain solid through Middle East worries
A Monday probe to the topside Friday above 12473.5, after Thursday’s whipsaw price action that saw a push up to this level, then a setback and a bounce from 12303.5 above 12299 support, sustaining upside pressures since the late August advance above key 11847.5, and despite a setback this morning, whilst above 12324.5 to keep risks higher Tuesday.
The late August move up through 11847.5 secured an intermediate-term base and an intermediate-term bullish shift.
For Today:
Intermediate-term Outlook - Upside Risks: We see an upside risk for 12650.
What Changes This? Below 11565.5 shifts the intermediate-term outlook back to neutral; through 11480 is needed for an intermediate-term bear theme.
You can see more from Steve Miley, Academic Dean for the London School of Wealth Management and Kylin Prime Capital Senior Investment Advisor, on FXExplained.co.uk
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