ETFWorld.es

Technical Analysis: Markit iBoxx £ Liquid Corporates Long Dated Index : continuation of the bullish momentum

banche 2

The Markit iBoxx £ Liquid CorporatesLong Dated Index provides exposureto the 40 major bonds of the most liquid companies, denominated  ....


Day By Day – Indipendent Research


…in sterling and rated «investment grade». It has a strong bullish dynamic, representedby a series of successively ascending tops and bottoms and supported by the 200-day moving average.Nothing seems to call into question the trend for the coming weeks so we are bullish in the medium-term.

 

12122011_E

Anticipation  :
In the short-term, following an intermediate correction from the resistance at 185.40 points, the index rebounded off the major level at 178.70 points, a former resistance which became a support and now reinforced by the 200-day moving average. The bullish dynamics therefore continue after the formation of a couple of troughs, with a peak higher than the previous ones. The bullish crossing of an oversold MACD indicator (an indicator of the strength of the movement) has also confirmed this scenario.
We are thereforepositive in the short-term and envision rallying towards the resistance at 188.20 points (the target achieved by projecting the range of 168.70 to 178.70 points + the projection of the last bullish impulse: blue arrows) with an intermediate target of 185.40 points corresponding to the previous peaks.
We set the invalidation threshold for this positive scenario slightly below the major support at 178.70 points.

Close price 182.37

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 185,4 / 188,2 pts
Supports 178,7 / 175,7 pts


Follow-up Analysys: The tracker dated 05/12/2011 recommended selling the DAX30. Since then, prices moved much closer to our target at 5782 points. Given the current market nervousness we recommend to close this position.

DISCLAIMER

This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext®, trackers®, are registered marks of NYSE Euronext.

Source: ETFWorld – Day By Day – Indipendent Research

 

 

Artículos similares

Technical Analysis: Stoxx Europe 600 Real Estate index : Clearing of the 2011 highs

1admin

Technical Analysis: Stoxx Europe 600 Insurance index: bullish breakout of the triangle

1admin

Technical Analysis: MSCI EM Asia index: towards March 2012 highs

1admin