Indices

Technical Analysis – CHI50 index remains positive; bulls falls short of the April 2019 high

Posted on October 14, 2019 at 3:35 pm GMT

CHI50 stock index seems to have lost some momentum as sellers reversed the index back down to the previous peak of 14,068 from July 1. The rally from the low of 13,373, failed to reach the April 2019 high of 14,239, but persisting positive signals keep it intact. The short-term oscillators reflect a stall in price. The MACD is deep in positive territory and has started to turn down, towards its red trigger line. The RSI, although having declined marginally [..]

Technical Analysis – GER30 index rallies above 200-period SMA

Posted on October 11, 2019 at 1:46 pm GMT

GER30 stock index extended higher as the bulls overcame the key resistance of 12,150, where the 50- and 200-period simple moving averages (SMAs) crossed each other. The bulls seem to still be in control as backed by the upward sloping 200-period SMA and the recent turning up of the 50- and 100-period SMAs. The short-term oscillators reflect positive momentum is intact. The MACD is ascending and has distanced itself above its red trigger line and into the positive region, while [..]

Technical Analysis – Is US500 index forming a double top pattern?

Posted on October 7, 2019 at 12:14 pm GMT

US 500 stock index registered three negative weeks in a row and the short-term trading may not get any better yet as the technical indicators keep flashing bearish signals; the MACD has dropped into the negative area and is currently looking stable below its red trigger line, while the RSI seems ready to reverse lower after touching its 50 neutral mark. The 2,815 level looks to be the neckline of a double top formation and therefore any decisive close under [..]

Technical Analysis – Dollar index futures to hold positive above ascending trendlines

Posted on October 4, 2019 at 1:22 pm GMT

The US dollar index futures are set to close negative in the week after failing to retest the 28-month high of 99.30, with the RSI and the MACD foreseeing now a positive but softer short-term trading. On the downside, the ascending trend-line drawn from the 95.34 trough, currently seen around 98.20, could be an ideal place to look for immediate support. If the price clears that barrier, the sell-off could pick up steam towards 97.52, which is the 38.2% retracement [..]

Technical Analysis – UK100 stock index plummets; buyers resurface ahead of 7000 level

Posted on October 3, 2019 at 3:35 pm GMT

UK stock index collapsed aggressively from the two-month high of 7,440 right through the simple moving averages (SMAs), erasing all gains that commenced on August 15. The MACD has distanced itself in the negative region below its red trigger line, reflecting the negative sentiment in the market. Yet, the upward slope in the RSI, which has deepened into the oversold area, warns traders that the move down is probably looking for a bottom. A significant move above the 7,050 level [..]

Technical Analysis – US30 stock index consolidates; swing low support remains in place

Posted on September 30, 2019 at 1:35 pm GMT

US30 stock index seems to be undecided as it is unable to break below the 26,833 level, which is the 23.6% Fibonacci retracement of the up leg from 25,279 to 27,312. The short-term oscillators reflect a stall in momentum but favor a push lower. The MACD is only just below its red trigger line in the negative zone, while the RSI is in bearish territory pointing down after a deflection off the 50-level. Despite the consolidation period the negative signals [..]

Technical Analysis – US 30 index unable to log new record high, pulls back

Posted on September 26, 2019 at 2:59 pm GMT

The US 30 index came close to challenging its all-time high of 27,402 earlier this month, but did not quite reach that level, and subsequently pulled back. The inability of the bulls to log a new high reaffirms that the index is in a sideways market, with a push either above 27,402 or below 25,280 needed to change this neutral picture. Momentum oscillators confirm the lack of direction, with the RSI being relatively flat near its neutral 50 line, [..]

Technical Analysis – JP225 index bounces on 50% Fibonacci; bias has yet to shift positive

Posted on September 24, 2019 at 10:28 am GMT

Japan’s 225 stock index drifted higher after stepping on the 50% Fibonacci of the downleg from 24,472 to 19,239 and the upper surface of the Ichimoku cloud in the four-hour chart. While the positive momentum in the MACD and the location of the RSI, which managed to climb above its 50 neutral level, indicate some improvement in the sentiment, the bullish bias has yet to be confirmed as the former holds under its signal line and the latter seems to [..]

Technical Analysis – US100 uptrend in consideration after lower high

Posted on September 23, 2019 at 12:44 pm GMT

US100 stock index is keeping its higher lows connected with an ascending trend-line drawn from the end of December, but the lower high registered at 7,976 earlier this month has brought some doubt about whether the market will stretch its uptrend to a new record high anytime soon. The momentum indicators are currently reducing the odds for such a case as the MACD seems to be making its way down under its red signal line and the RSI has reversed back towards [..]

Technical Analysis – GER30 index supported by Ichimoku cloud after bearish breakout

Posted on September 23, 2019 at 10:04 am GMT

GER30 stock index corrected sharply to the downside and under the 12,300 support level in the face of worse-than-expected PMI readings out of Germany and the whole Eurozone on Monday. Traders are currently waiting to see whether the bears can next breach the bottom of the Ichimoku cloud in the four-hour chart as the short-term bias has switched from neutral to bearish according to the RSI and the MACD. Slipping below the cloud and the 12,262 number, the price may [..]

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