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Technical Analysis: MSCI World Index: The bullish dynamic resumes

MONDO

Technical Commentary : The MSCI World  index  is  composed of 1910  stocks  listed  in 23  countries around  the world,  selected  to  represent 85% of  the global market  capitalization while  reflecting  the  economic  diversity  of  the market.…….


Day By Day – Indipendent Research


This  index  evolves  in  a  bullish  trend, which resumed thanks  to a reverse head-and-shoulders pattern triggered in July 2012. The orientation of the 100-day moving average also confirms the direction of the trend. Despite the recent consolidation phase, the dynamic is still valid and should unfold during the coming months. We are bullish over the medium term.

05112012

    
Anticipation :   

In the shorter term, the consolidation brought prices back  to the 1294 points support, former resistance corresponding to august 2012 highs. The reaction on this level is bullish. This polarity confirms, once again, the direction of the trend, and a new test of the 1351 points resistance can thus be anticipated in the near future. The trend is clearly bullish in the short term.

We set the invalidation threshold of this scenario slightly below the 1294 points support. Its breach would indicate the continuation of the corrective move towards the 1269 points major support.

 

Close price 1305,77

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 1351 / 1373 pts
Supports 1294 / 1269 pts


Follow-up Analysys: On  October  29th,  we  recommended  the purchase of  the Stoxx Europe 600 Personal & Household Goods Net Return index. Since then,  prices  resumed  their  bullish  dynamic and  are  now  approaching  our  target,  at 500.60 points.

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Source: ETFWorld – Day By Day – Indipendent Research

 

 

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