Indices Updates by Solid ECN

SOLIDECN

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Nov 16, 2021
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The CAC 40 index is correcting at 6089. The French stock market continues to trade in a local downtrend against the background of the rapid growth of bonds, as well as in anticipation of another increase in domestic inflation.

Tomorrow France will publish data on inflation, which, as analysts suggest, will reflect an increase in the monthly rate of at least 0.7%, which, in turn, will lead to maintaining the annual rate at 5.8%.

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The quotes of the asset continue to trade within the global downtrend, falling to the lowest level of the year. Technical indicators are in a sell signal state: the range of EMA fluctuations on the Alligator indicator is expanding towards the decline, and the AO oscillator histogram is trading in the negative area forming descending bars.

Support levels: 5881, 5610 | Resistance levels: 6250, 6569​
 

SOLIDECN

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Nov 16, 2021
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Tesla, technical analysis​

On the daily chart, the price is within the global Expanding formation pattern, gradually approaching the support line around 550. At the moment, the formation of the fifth downward wave is observed, which has reached the basic trend of 100.0% of the Fibonacci extension around 628.

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On a four-hour chart, the local dynamics close within the Triangle pattern with dynamic boundaries of 746 – 628, the location of which confirms the further development of negative dynamics. Fast EMAs on the Alligator indicator continues to move away from the signal line, and the AO oscillator histogram forms bars with a downward trend in the sell zone.​
 

SOLIDECN

Trader
Nov 16, 2021
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Nasdaq 100 - Murray analysis​

The Nasdaq 100 index continues to move within the long-term downward channel. This week, the price tried to start a corrective growth, having reversed around the level of 11250 ([2/8]), but in the end all the positions won were lost.

The reversal level of 11250.0 is still the key for the "bears". Its breakdown will give the prospect of further decline to the lower limit of the Murray trading range in the area of 10000 ([0/8]). When the level of 11875 ([3/8]) and the middle line of the Bollinger Bands break out (12090), quotes will be able to continue growing within the central Murray channel to the level of 13125 ([5/8]).

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Technical indicators do not give a single signal: the Bollinger Bands are directed downwards, the MACD histogram is stable in the negative zone, the Stochastic is directed upwards.

Resistance levels: 12090, 12500, 13125 | Support levels: 11250, 10625, 10000​
 

SOLIDECN

Trader
Nov 16, 2021
649
18
24
37
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Nikkei 225 - technical analysis​

H4
On the four-hour chart above the level of 26581.0, there is the formation of the Three Black Crows candlestick analysis pattern, which signals the continuation of the downtrend. Following the quotes, the successive Gravestone Doji patterns formed, which usually appear at the top and are a signal for a price reversal. In the current situation, it is likely that the asset will decline to the support level of 25796, overcoming which will allow the "bears" to reduce the price to the range of 24575–23596. An alternative scenario is possible in case of an impulsive movement of quotes above the resistance level of 26865.0. Then the "bulls" will be able to reverse the situation on the market and start an uptrend in the area of 28263 – 30008.

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D1
On the daily chart, there is a Bear Flag price pattern, the construction of which started from the resistance at 28263; however, after reaching the support level of 25796, the "bulls" regained part of the lost positions, reaching the area of 26581.0. However, a warning signal for a price reversal is the formation of a Hanging Man candlestick analysis pattern, which indicates that buyers have lost control over the market. In this situation, most likely, the quotes will continue to decline to the level of 25796, the overcoming of which will serve as a signal for a further downtrend to the level of 23596.

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Support levels: 25796, 24575, 23596 | Resistance levels: 26865, 28263, 30008​