The markets’ appetite for US credit risk has reached levels of “euphoria”, according to David Sneddon and his team at Credit Suisse in London.
GBPUSD will soon be retesting its lows and looking to develop a market bottom some time in Q4 2016 / early 2017, according to Ron William, Technical Strategist at ECU Group in London.
The S&P 500 has broken out from its large year-long “W” formation, potentially a very bullish development, says Ron Meisels, President of independent research house Phases & Cycles.
GBPUSD remains under pressure and capped beneath its 21-day moving average and resistance at 1.3482 to 1.3535, says David Sneddon and his team at Credit Suisse in London.
The S&P 500 will rally towards 2250 by year-end, according to Ari Wald, Technical Analyst at Oppenheimer.
Gold is likely to re-test 1308, says Andy Dodd, Head of Technical Research at Louis Capital Markets.
The MSCI Emerging Markets Index is mounting a significant challenge on key resistance at 852/873, the neckline of an unconfirmed inverse head-and-shoulders pattern, according to David Sneddon and his team at Credit Suisse.
Though the FTSE has outperformed most other equity markets in recent weeks, it has entered into a relative downtrend against the STOXX Europe 600 — an ominous signal according to Andy Dodd at Louis Capital Markets.
The 100-day moving average for December 2016 Brent is about to settle above the 200-day moving average, sending out a clear bullish signal for crude oil, says James Dima, technical analyst at Marex Spectron.
Ari Wald, Technical Analyst at Oppenheimer, recommends exposure to US equities in anticipation of a choppy rise to new S&P 500 highs later this year.