Weekly market forecasts – Photo from pixabay.com
After the report on US employment made it “clearly clear” that for the moment there is no high probability that the FED will be able to cut rates, the markets, after an initial slip, closed the week in a slight retracement, close to the opening prices. The FED will decide on rates on Wednesday and therefore it is believed that there will be a stalemate. The attitude should always remain the same, that is, we will wait for the data from time to time to understand the state of the places and how to move. Meanwhile, the ECB cut rates by 0.25%. Few times, if any, has the European Central Bank moved ahead of the FED. However, even in this case analysts believe that at least until September there will be no further moves. What will the markets do now?
Shares on the Piazza Affari
Stellantis
The shares have moved in the 20.20 euro area in recent days. The Alligator Indicator on the daily and weekly time frames is set bearish/sideways with short and medium long term bullish divergences on our oscillators. The holding of the 19.648 area (low of 8 May) in the next few days could lead prices towards 21.065 (high of 28 May) and then towards 21.57 (high of 14 May). It is noted that prices are currently moving in close contact with the annual POC, i.e. the point where the greatest number of trading took place.
The average recommendations of analysts as reported by specialized magazines are as follows:
Accumulate with target at 26.77.
What will the markets do now? Weekly forecast
The trading session on June 7 closed at the following prices:
Dax Future
18,664
Eurostoxx Futures
5,074
Ftse Mib Future
34,905
S&P500
5,352.9.
As written over the weekend: “the markets analyzed closed the week with mixed signals. For the Ftse Mib Future and the American markets the trend is bullish. For the other two, Dax and Eurostoxx Future, bearish side”.
What are our predictions for the week starting today?
We believe the probability is on the upside and today will likely be the weekly low and Friday the high.
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