Indices

Technical Analysis – US 500 index holds marginally below 100-SMA; bullish in long term

Posted on June 22, 2020 at 1:08 pm GMT

The US 500 cash index found strong resistance around the 100-period simple moving average (SMA) over the last session, sending the indicators lower as well. The MACD is heading south below zero and its trigger line, while the RSI is pointing down below the neutral level of 50. Also, the red Tenkan-sen line declined beneath the blue Kijun-sen line suggesting more losses in the 4-hour chart. Should prices head lower, immediate support could come from the 38.2% Fibonacci retracement level of the upward [..]

Technical Analysis – UK 100 index attempts to climb above 23.6% Fibo

Posted on June 19, 2020 at 11:19 am GMT

The UK 100 cash index is pushing efforts to extend buying pressure above the 23.6% Fibonacci retracement level of the up leg from 5,639 to 6,510 at 6310, having climbed above the bullish crossover within the 20- and 40-period simple moving averages (SMAs). The MACD is ready to stretch to the upside, while the stochastic oscillator is heading up towards the overbought region. A successful break above the 23.6% Fibo could open the way towards the three-month peak of 6,510 before the 6,760 barrier, taken from the high on January 2019, comes into view. Higher, [..]

Technical Analysis – US 30 stock index keeps uptrend safe, but doubts rise

Posted on June 19, 2020 at 10:38 am GMT

The upward pattern in US 30 stock index (cash) lost some shine after the print of a lower high at 26,791 in the four chart, but the positive trend remains valid as long as the market action develops above 24,850. Looking at the short-term window, the index is trapped between a descending trendline and the 25,770 support area and unless one of these borders collapses, the neutral mode is likely to stay intact. Technically, the bias is viewed as cautiously positive given the latest rebound [..]

Technical Analysis – JP 225 index restores positive tone with bounce off 23.6% Fibonacci

Posted on June 16, 2020 at 1:47 pm GMT

JP 225 stock index (Cash) yesterday bounced off the 21,431 mark, that being the 23.6% Fibonacci retracement of the up leg from 15,384 to 23,302, resuming the uptrend by climbing above the 200-day simple moving average (SMA). The Ichimoku lines and the short-term oscillators, although reflecting the recent pullback, continue to back an improving picture overall. The MACD, despite falling below its red trigger line, remains deep in bullish territory, while the RSI is rising above its 50 level. Additionally [..]

Technical Analysis – US dollar index stops below 23.6% Fibo; negative risks not faded yet

Posted on June 16, 2020 at 12:51 pm GMT

The US dollar index touched the 23.6% Fibonacci retracement level of the down leg from 103.80 to 95.60 at 97.52 and retreated lower, heading towards the three-month low. The MACD is flattening below the trigger and zero lines, while the RSI is sloping down in the negative zone in the short-term. Also, the 20-day simple moving average (SMA) created a bearish crossover with the 40- and 200-day SMAs. A continuation of the bearish structure could open the door for the [..]

Technical Analysis – US 500 index rebounds on 100-SMA; remains under pressure

Posted on June 15, 2020 at 10:32 am GMT

The US 500 cash index remains under pressure as its price continues to drift lower from the 15-week high of 3,233. The short-term technical indicators in the daily chart are bearish and point to more weakness in the market. The flat 200-period simple moving average (SMA is currently capping positive movements as the 50-day SMA is ready to create a bullish cross with the 100-period SMA, which is acting as a critical support level. The MACD is slipping beneath its trigger line, while the RSI is sloping down in the [..]

Technical Analysis – US 30 index cautiously bullish at ascending trend line

Posted on June 12, 2020 at 8:18 am GMT

US 30 stock index (Cash) found some footing on the supportive trend line at the 25,230 level, that being the 61.8% Fibonacci retracement of the down leg from the all-time high of 29,582.61 to the 40½-month low of 18,170. Negative pressures have risen, as the index has aggressive weakened in the last couple of days. Yet, the Ichimoku indicator is reflecting weakness while the rising trend line and the simple moving averages (SMAs) back an improving picture. The short-term oscillators [..]

Technical Analysis – US 500 index retreats after touching 15-week high

Posted on June 11, 2020 at 1:22 pm GMT

The US 500 cash index has been retreating over the last few days, after it found strong obstacle at the 15-week high of 3,233. The price has just breached the red Tenkan-sen line and may find support at the 200-day simple moving average (SMA), currently at 3,019, ahead of the 2,986 support, being the 23.6% Fibonacci retracement level of the up leg from 2,183.95 to 3,233. Falling below this line, the 100-day SMA at 2,944 and the 50-day SMA at [..]

Technical Analysis – US 100 index surges to record high; bullish in long term

Posted on June 10, 2020 at 7:51 am GMT

The US 100 cash index skyrocketed to a fresh all-time high of 10,017.20 earlier today, stretching its bullish outlook from the 14-month trough of 6,635 posted on March 23. According to the momentum indicators the strong bullish tendency could continue as both the RSI and stochastics are continuing to flirt with overbought levels. The RSI has just jumped above the 70 level, remaining above the rising line, while the stochastic is pointing up, posting a bullish crossover within its %K [..]

Technical Analysis – US 30 index jumps above 200-day SMA; enters key resistance zone

Posted on June 5, 2020 at 1:17 pm GMT

The US 30 stock index (cash) ticked above the 200-day simple moving average (SMA) and is ready to test the 26,580-27,000 resistance zone. The battle could be challenging as the RSI and the stochastics point to an overbought market, suggesting that the rally could soon lose steam. If the bulls are unable to remove the 27,000 ceiling, letting the price slip back below the 200-day SMA, the red Tenkan-sen line near the 25,770 barrier could take over. However, what could [..]

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