Sat, Jan 28, 2023 @ 19:40 GMT
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Worst December For Markets In 16 Years

The Dow Jones index is trading in a downtrend on a daily time frame. The confirmation of this comes from the fact that the price is trading below the downward trend line shown in orange colour. The fact that the 50-day moving average (shown in yellow) is trading below the 100-day moving average (shown in green) further strengthens the case for the bears.

The green horizontal line shows the support zone and the red solid horizontal line shows the resistance zone

The S&P500 index has formed triple top shown by three circles on the chart below. The triple top is a clear indicator that the price doesn’t have the bull momentum behind it. Simply put, there are higher chances the price may break below the 2600 mark and it may actually touch the support shown on the chart below. The RSI isn’t giving any bullish as well so the overall sentiment is still negative

The green horizontal line shows the support zone and the red solid horizontal line shows the resistance zone

The price of the Dax index has broken out of its current consolidation zone to the downside. The DAX index is trading in a solid downtrend and the confirmation of this comes from the fact the price is trading below the moving averages. The 50-day moving average is shown in yellow and the 100-day moving average is shown in green. The RSI is near oversold zone and it is likely that we may see some new buying pressure and this is because any reading near 30 or below is considered an opportunity to buy.

The green horizontal line shows the support zone and the red solid horizontal line shows the resistance zone

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