Indices

Technical Analysis – US 100 index flags overbought situation near one-month high

Posted on April 14, 2020 at 11:24 am GMT

US 100 stock index (cash) has retraced more than half of the bearish wave started from the 9,750 top, piercing all its simple moving averages (SMAs) on the four-hour chart and topping at a one-month high of 8,495. The odds for a downside correction are increasing as the price is testing a familiar restrictive area and the RSI and the Stochastics are flagging overbought conditions. Should the market weaken, the 8,300 resistance area could help the index to return to [..]

Technical Analysis – GER 30 improves above 200-period MA

Posted on April 13, 2020 at 3:17 pm GMT

German 30 index’s (Cash) price appears to be gaining ground above the 200-period simple moving average (SMA), backed by the rising Ichimoku lines and the advancing 50- and 100-period SMAs. Also supporting this view, are the short-term oscillators, which display increasing positive momentum. The MACD, in the positive region, is strengthening above its red trigger line, while the RSI is rising in the overbought territory. If buyers continue to control the market, initial resistance could come from the 10,898 level, [..]

Technical Analysis – US 500 stock index holds in upward sloping channel after bounces off 39-month trough

Posted on April 13, 2020 at 10:06 am GMT

The US 500 cash index has been developing within an upward sloping channel, following the rebound on the 39-month trough, achieved on March 23. The price had a successful jump above the simple moving averages (SMAs) in the 4-hour chart, while the technical indicators are moving sideways, with the MACD crossing just below its trigger line and the RSI flattening above the 50 level. If price action jumps above the 50.0% Fibonacci level of the downward move from 3,396.64 – [..]

Technical Analysis – US dollar index lacks direction above 200-MA

Posted on April 10, 2020 at 12:32 pm GMT

US dollar index’s latest dip appears to be pausing ahead of the 200-period simple moving average (SMA), reflecting an unclear direction after the push up from the 98.38 trough. The flat demeanour of the 200-period SMA and the conflicting signals between the 50- and 100-period SMAs further back the uncertain course. Moreover, the price actions’ frozen state is also mirrored within the directional momentum in the short-term oscillators. The MACD has slipped marginally below zero and its red trigger line. [..]

Technical Analysis – US dollar index lacks direction above the 200-MA

Posted on April 10, 2020 at 11:54 am GMT

US dollar index’s latest dip appears to be pausing ahead of the 200-period simple moving average (SMA), reflecting an unclear direction after the push up from the 98.38 trough. The flat demeanour of the 200-period SMA and the conflicting signals between the 50- and 100-period SMAs, further back the uncertain course. More so, price actions’ frozen state is also mirrored within directional momentum in the short-term oscillators. The MACD has slipped marginally below zero and its red trigger line. However, [..]

Technical Analysis – US 30 index claws its way higher as recovery persists

Posted on April 9, 2020 at 2:37 pm GMT

The US 30 index has recovered a good chunk of its losses in the past couple of weeks and is now posting higher highs and higher lows on the four-hour chart above a short-term uptrend line drawn from the March 23 bottom. The immediate-term outlook therefore seems to have turned positive, and for that to change, the bears would need to pierce below the 22,350 area and the uptrend line. Momentum oscillators endorse the improving picture, with the RSI looking [..]

Technical Analysis – CHI50 stock index retreats to meet supportive trendline

Posted on April 9, 2020 at 12:09 pm GMT

China’s 50 stock index (CHI50) is testing the ascending trendline that has been navigating the market since the slump to a one-year low of 11,558. The negative cross between the red Tenkan-sen and the blue Kijun-sen lines and the weakening RSI on the four-hour chart hint that downside risks remain. To confirm that, the index needs to slip below the trendline and push towards the 38.2% Fibonacci of 12,593 of the downleg from 14,241 to 11,558. If sellers persist, traders could [..]

Technical Analysis – US 100 stock index starts a bullish correction in short-term

Posted on April 8, 2020 at 1:08 pm GMT

The US 100 cash index has been making higher highs and higher lows through the end of March after it touched a more than 14-month low of 6,635, pausing the aggressive downward movement. The technical indicators continue to send some bullish signals, suggesting that the positive momentum is not over yet. The RSI, slightly above 50, is indicating that the market could strengthen a little bit in the short-term. Stochastics are not yet in oversold territory with the %K and %D positively aligned, creating a bullish crossover. [..]

Technical Analysis – GER 30 index exits neutral zone but new barrier pops up

Posted on April 7, 2020 at 2:50 pm GMT

The German 30 stock index escaped from an almost three-week old range on the four-hour chart but quickly found new resistance near the 200-period simple moving average (SMA) on the way up. According to the RSI and the Stochastics, there is not much upside left as the indicators are reversing southwards after peaking in the overbought area. In the event of a downside reversal, the 38.2% Fibonacci retracement of the bearish wave from 13,826 to 7,961 at 10,200, could come to rescue in scope to push the price [..]

Technical Analysis – US Dollar index recoups some strong losses; neutral in very short term

Posted on March 30, 2020 at 12:26 pm GMT

US dollar index futures have been recouping some of the preceding days’ losses following the plunge from the three-year peak of 103.80. The price is currently hovering above the 20- and 40-day simple moving averages (SMAs), while the RSI is turning higher near the 50 level. However, the MACD oscillator is still moving beneath the trigger line, continuing the sell-off on price action. To the upside, immediate resistance could come from the 50.0% Fibonacci retracement level of the up leg [..]

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