Indices

Technical Analysis – US 500 stock index records new all-time highs close to 3,000

Posted on July 4, 2019 at 8:34 am GMT

US 500 index showed a notable advance yesterday, completing a fresh all-time high around 3,000, but it ended the day in red. The advance of the trigger line above the MACD and the bullish momentum in the indicator suggests there is some more room for improvement, while the RSI indicator seems to be flat near the overbought zone, signaling a possible overstretched market. Also, the 50- and 200-day simple moving averages (SMAs) are moving sideways despite the latest upside run. [..]

Technical Analysis – US dollar index struggles below 200-SMA; long-term upward channel intact

Posted on July 2, 2019 at 12:10 pm GMT

The US dollar index has gained some remarkable ground after the climb above the 23.6% Fibonacci retracement level of the upward movement from 88.10 to 98.25 near 95.84. Currently, the index is failing to surpass the 200-day simple moving average (SMA), which coincides with the 96.40 resistance, flirting with a possible drop. However, the stochastic oscillator is fluctuating in the overbought mark and the MACD is recording a bullish crossover with its trigger line in the negative zone. Should the price [..]

Technical Analysis – US 30 index flirts with new record peak

Posted on July 1, 2019 at 12:45 pm GMT

The US 30 stock index is currently challenging June’s peak of 26,907 but the positive momentum in the MACD, which trends above its trigger line, signals that a new record high could be achievable as well in the next few sessions. Still, the RSI warns that the market is approaching overbought territory and hence downside corrections cannot be ruled out. Jumping above the 26,907 resistance level, the bulls would aim to test the uncharted area between 27,000 and 27,500. Otherwise, if the market [..]

Technical Analysis – US 500 index may pick up steam above all-time high

Posted on June 26, 2019 at 11:59 am GMT

The US 500 index retreated below the all-time high of 2964 in the previous couple of days, testing the red Tenkan-sen line in the daily timeframe. The 200-simple moving average (SMAs) remains flat, failing to confirm the long-term bullish picture. The MACD is extending is bullish run with weak momentum while the RSI is pointing north in the positive zone. A closing price above the all-time high (2964) could trigger another bullish phase more likely towards the 3000 psychological mark. Should [..]

Technical Analysis – Dollar Index futures scope for further losses but short-term downside softer

Posted on June 24, 2019 at 1:39 pm GMT

The position in the US dollar index futures is on the back foot for the fourth consecutive day and near a three-month low of 95.47 following the rejection from the 20- and the 50-day simple moving averages (SMA). The price has so far fallen below the 200-day SMA, the previous low of 96 and the 50% Fibonacci of the 93.56-98.23 upleg, putting the January upward pattern into question. In the short-term, downside pressure may persist but potentially at a softer pace given that Stochastics [..]

Technical Analysis – US 500 stock index may chart another pick up

Posted on June 14, 2019 at 9:10 am GMT

US 500 index showed little change after opening the week with a small positive gap above its 50-day simple moving average (SMA). The distance between the MACD and its red signal line and the bullish momentum in the indicator suggests there is some room for improvement, but in the very short-term a consolidation phase may follow if the fast RSI continues to grind sideways. A closing price above the 2,909-2,936 area and therefore on top of the Ichimoku cloud could trigger [..]

Technical Analysis – US 100 index recovers notable losses in short term

Posted on June 10, 2019 at 12:20 pm GMT

The US 100 index advanced considerably in the previous week, penetrating the Ichimoku cloud following the rebound on the 6930 support level. However, the bulls have so far been unable to push the price above the 50-day simple moving average (SMA), but the technical indicators are moving north. The MACD surpassed the trigger line in the negative area while the RSI climbed above the 50 level. In case of further advances, a first line of resistance may be found near [..]

Technical Analysis – US 500 index buying interest in progress

Posted on June 5, 2019 at 1:14 pm GMT

The US 500 stock index has rebounded somewhat after falling to a three-month low of 2728.50 and the momentum indicators suggest that the market sentiment might get better as the RSI is reversing back to the upside and the MACD also looks to be changing direction, moving down to meet its red signal line in the negative zone. Should bullish dynamics dominate, the market might revisit the lower surface of the Ichimoku cloud and the flat Kijun-sen line currently at 2840. [..]

Technical Analysis – US 30 index opens with gap down; flirts with 4-month low

Posted on June 3, 2019 at 12:33 pm GMT

The US 30 index futures opened with negative gap today below the 38.2% Fibonacci retracement level of the upward movement from the 16-month low of 21,596 to the 6-month high of 26,712 near 24,754. The index is on the back foot, recording more than four-month low (24,606), and the technical indicators suggest that the market could ease a little bit more in the short-term; the MACD is falling in the negative zone, while the RSI looks to be losing momentum near oversold [..]

Technical Analysis – GER30 index breaches key support

Posted on May 31, 2019 at 12:12 pm GMT

GER30 index dived below a former key support area of 11,700 on Friday, signalling the continuation of the bearish action. The RSI is backing this view as well as the indicator keeps losing ground under its 50 neutral mark, while the MACD is giving extra negative warnings as long as it extending negative momentum below its red signal line. Traders however could wait for a decisive close below the 200-day simple moving average and the Ichimoku cloud before rapidly increasing [..]

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