Nasdaq, DAX And Karachi Index Technical Analysis

NASDAQ

So while the Dow tested its highs again the Nasdaq was again pulled down as all the FANG stocks gave up. The Nasdaq 100 index broke the 29/06 swing low. The neckline of a h&s broken the pattern points to 5420.

DAX

DAX – the German index has not confirmed a trend reversal on long term charts yet but it did form a doji star on the quarterly chart. That it did so after achieving the target of 5=1 shown by the box makes it an important candle to watch as the trend could be complete here

KARACHI 100

A very steep fall in the Karachi 100, and it is in wave 5/5, but the 5th wave did not achieve the Fibonacci or channel target. So I leave it open as to whether the final top is in or not. While possible ideally it should extend some more.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

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