Technical Analysis: FTSE EPRA / NAREIT Index: the bullish dynamics unfolds Resistances


Technical Commentary : The FTSE EPRA / NAREIT United States Index Net TRI is an index composed of 108 different equities among the US real estate sector. …….

Day By Day – Indipendent Research

It has been evolving within an uptrend (successive ascending peaks and troughs) as shown by the rising 100-day moving average. We have no evidence to question the continuation of this dynamic in the coming weeks. We are bullish over the medium term.


Anticipation :  

In  the shorter  term,  the  index  recently bounced off  the 3900 point  level. Reinforced by  the  rising 100-day moving average,  this threshold – a former resistance turned support – has been tested repeatedly but it never broke. The trend being clearly bullish, the rebound could lead prices up to a first target on the 2007 resistance at 4150 points. The short-term trend is bullish and we set the threshold invalidation of this scenario slightly below support at 3900 points, the last level of rebound.

Close price 3951,06

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 4150 / 4340 pts
Supports 3900 / 3750 pts

Follow-up Analysys: On  October  8th  we  have  recommended  the purchase of FTSE MIB  index ETFs  related. Since  then,  prices  have  been  rising  as expected, and they are heading towards our 16,765 points target.


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Source: ETFWorld – Day By Day – Indipendent Research



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