Indices

Technical Analysis – CHI50 stock index skyrockets to 12-year highs

Posted on July 6, 2020 at 10:40 am GMT

ChIna’s 50 stock index (CHI50 cash) ignored all nearby 2018 barriers on Monday and skyrocketed to 15,983, recording its best daily gain ever. After such an impressive rally, some downside retracement could be reasonable as markets do not move in one direction. The RSI and the Stochastics have also entered the overbought territory, but have yet to show signs of weakness, suggesting that there might be some room for improvement – may be a limited one – before a reversal [..]

Technical Analysis – US 30 index attempts to keep recent gains intact

Posted on July 3, 2020 at 10:54 am GMT

US 30 stock index (Cash) is resting on the 100-period simple moving average (SMA) at 25,790, merged with the upper surface of the Ichimoku cloud and finding further support from the positively charged 200-period SMA just beneath, at 25,746. At the glance it seems this mostly neutral picture that has taken over the last weeks may be here to stay for a while. Conflicting signals exist in the directional picture of the index. The bullish Ichimoku lines mirror growing positive [..]

Technical Analysis – US 100 index is greedy for more all-time highs

Posted on July 2, 2020 at 12:25 pm GMT

The US 100 stock index (cash) is calling new all-time highs ahead of the Nonfarm payrolls report due later today as the price has yet to reach the edge of the overbought zone in the daily chart; the RSI has yet to peak above 70 and the Stochastics keep strengthening towards the 80 level. The next stop could be near the 10,650 level taken from the 161.8% Fibonacci extension of the latest negative correction (from 10,346 to 9,820). Alternatively, the [..]

Technical Analysis – CHI 50 stock index accelerates to 2020 highs

Posted on July 2, 2020 at 11:13 am GMT

China’s 50 stock index (cash) is recording another stunning green day, rallying by more than 5% since the latest rebound on the 20-day simple moving average (SMA) to re-challenge the 2020 high of 14,678. The sharp move drove the pair to overbought territory according to the RSI, which pierced above 70. However, the indicator has yet to reverse lower and the stochastics seem ready to return above 80, so the rally may still have some fuel to burn. Above the [..]

Technical Analysis – US Dollar index tries to surpass 23.6% Fibonacci

Posted on July 1, 2020 at 11:06 am GMT

The US dollar index rebounded on the three-month trough of 95.60, finding resistance at the 23.6% Fibonacci retracement level of the down leg from 103.80 to 95.60 at 97.52. The technical indicators seem to be contradicting each other as the MACD holds above the trigger line and is looking bullish, however, the stochastic oscillator is turning lower, suggesting a possible pullback in the short-term. If buying interest picks up, early tough resistance could occur at the bearish cross of the 40-day simple moving [..]

Technical Analysis – US 500 index’s sideways shift fades below 200-MA

Posted on June 29, 2020 at 1:40 pm GMT

US 500 stock index (Cash) is attempting to reclaim the 200-period simple moving average (SMA) after dipping below it in the previous session. The recent horizontal glide in the price after the pullback from the three-and-a-half-month top of 3,233, has been dwindling as negative tensions build. The neutral-to-bearish tone in the 50- and 100-period SMAs and the negative bearing in the Ichimoku lines further back the deteriorating view. Additionally, the price remains below the cloud and the vital 200-period SMA. [..]

Technical Analysis – US 30 index pauses its upside rally below 200-day SMA

Posted on June 26, 2020 at 11:27 am GMT

The US 30 cash index has lost its strong positive momentum after the pullback from the three-and-half month high of 27,369 on June 9. The price found strong resistance at the 200-period simple moving average (SMA) over the last few days and is still consolidating above the 23.6% Fibonacci retracement level of the up leg from 18,145 to 27,639 at 25,340. According to the technical indicators, the MACD is losing ground below the trigger line, while the RSI is moving [..]

Technical Analysis – UK 100 index rebounds on 50-day SMA; bullish mode intact

Posted on June 25, 2020 at 1:50 pm GMT

The UK 100 index (Cash) is pausing its downside movement around the 50-day simple moving average (SMA) shifting the very short-term picture to the downside. According to the momentum indicators, the MACD is moving beneath its trigger line, marginally above the zero level, while the RSI dropped into the negative zone and is pointing south. A clear move below the 50-day SMA could send prices towards the 38.2% Fibonacci retracement level of the downward wave from 7,690 to 4,860 at 5,931. Further weakening could drive the market to 5,655, losing some [..]

Technical Analysis – US 100 index flies to new records

Posted on June 23, 2020 at 2:43 pm GMT

The US 100 cash index (Nasdaq) entered uncharted waters today once again, breaking above its previous all-time high of 10,155. The picture is overwhelmingly positive, with the price printing higher highs and higher lows above all its simple moving averages (SMA). Short-term oscillators detect strengthening upside momentum, endorsing the bullish picture. The RSI, already in positive territory, looks to be headed for a test of its 70 line soon, while the MACD just crossed above its red trigger line, which [..]

Technical Analysis – GER 30 index’s retracement forced sideways; positive picture under strain

Posted on June 22, 2020 at 2:44 pm GMT

Germany 30 Index’s (Cash) bounce on the 11,588 level, that being the 61.8% Fibonacci retracement of the down leg from 13,826.27 to 7,961, appears to have hit a ceiling at the 76.4% Fibo of 12,444. The current sideways move is further backed by the recent bearish overlap of the improving 100-period SMA by the falling 50-period one, around 12,258. Additionally, momentum indicators are highlighting the paused demeanour in the price as the MACD and the RSI remain stuck around their [..]

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