Global equity indices have posted solid, sideways consolidation activity over the past week, defending support levels from the recent early 2019 recovery rallies.
The strong advances so far this year have been driven by both a more dovish tone from the Federal Reserve in the US and a perception of positive progress on trade talks between the US and China.
The consolidations that have been seen into mid-January should provide platforms from which to launch higher, to challenge more significant resistance levels and turn the intermediate-term outlooks for equity indices from bearish to neutral and even to bullish.
Below we focus on the US broad benchmark average, the S&P 500 E-mini and the German benchmark, the DAX.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/equities-poised-for-further-up-legs-t-the-2019-advances/