05.10.11 - Daily prognosis

Hello everyone, 

the week starts with big news, as payments to Greece have been delayed and bond-interests have rises.
We know that news have an impact on price-action. But as I see and experience it, it's the other way around: When Price moves, news start struggling to find reasons for it. 

We will have a look at the biggest European and American stock exchange and gold. 

EURO-STOXX

We're still being situated in a downtrend. Having a look at the RSI we see a divergence to the price-trend: RSI rises and price falls. That's the sign of a trend change. 

Price will rise to around 2.200 points and then fall  to inner resistance at 2.000 points. 


Possible trend change due to RSI divergence.

DJIA

One remarkable aspect of the Dow Jones Industrial Average is that its 50-day exponential-moving-average (EMA) has major significance as a resistance line. As you can clearly see on my previous analysis', a rebound at the 50-day EMA could be correctly predicted. 

Also my prediction of a new downtrend seems to be valid, which means that price should move up again in the next days.

We are expecting a price movement back up to 11.200 points.  

GOLD

We're having a look at the 3-years price chart of gold. One thing that has to be said about gold is that small-term movements are not as predictable as the underlying longer-term movement.

200-days EMA and uptrend is intact. I expect the price to make a big move until October the 8th.