Friday’s close proved to be its most bullish of the month, after dovish comments from Fed officials gave equity markets another tailwind heading into the weekend.
On Wednesday we noted the bullish engulfing pattern which hinted at a swing low. Whilst Thursday’s trade was indeed lackluster, early trade on Friday saw it break out of a possible bullish wedge formation which now targets the 6769.6 high. Support has been found at the 50-period eMA and the MACD is curling up and could soon cross back above its signal line.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.