Technical Analysis: MSCI World Financials Net Total Return index: new bullish acceleration


The MSCI World Financials Net Total Return index is composed by 324 different equities among the financial sector of the developed countries.....

Day By Day – Indipendent Research

The index has been registered in a bullish trend for more than three months. The trend has been recently confirmed by the overflow of the 97.90 points major level. This graphic event confirmed a bullish reversal pattern formed between September and December last year.
This technical picture should generate a sustainable bullish movement toward the former tops. We are therefore bullish in the mid term.


Anticipation  :
On the short term side, prices triggered the reversal pattern in an impulsive move and then pulled back on the 97.90 points major support: the signal is confirmed. The bounce on this strong level – October 2011 top and 50-day ascending moving average price area – triggered a new bullish acceleration. The previous top has been exceeded and we now aim at the next resistance, located at 111.10 points, major level.
We are therefore positive in the short term with the 111.10 points major resistance as target.
We set the invalidation level of this opinion slightly below 102 points, the first immediate support.

Close price 104.31

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 111,1 / 117,75 pts
Supports 102 / 97,9 pts

Follow-up Analysys: On March 12th 2012, we recommended the purchase of the MSCI AC Asia Pacific ex-Japan index. Since then, the scenario is evolving as anticipated and prices are rising toward our target at 459 points.


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Source: ETFWorld – Day By Day – Indipendent Research




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