Indices

Technical Analysis – GER 30 index eyes February’s record high; bias bullish

Posted on December 18, 2020 at 11:27 am GMT

The German 30 index (cash) is in a breathing distance from February’s record high of 13,826 after finally breaching the tough resistance bar of 13,460. The technical picture continues to look constructive for additional gains as the red Tenkan-sen line is sloping upwards again after refusing to cross below the blue Kijun-sen. In other indicators, the MACD is strengthening above its red signal line, while the rising RSI and the fast-Stochastics are also reflecting a bullish bias, though some caution [..]

Technical Analysis – Dollar index registers its worst year since 2017; eyes on 90.00 level

Posted on December 16, 2020 at 2:50 pm GMT

The US dollar index (futures) had one of its worst years since 2017 despite the impressive rally to a 3 ½-year high of 103.79 in March. The index is set to post a yearly loss of around 7.0% and unless the 90.00 barrier puts breaks to the sell-off, the market could depreciate towards the 2018 troughs registered within the 88.88 – 88.40 zone. This is also where the 61.8% Fibonacci of the 2013 – 2017 upleg is placed, hence it [..]

Technical Analysis – JP 225 index holds in ascending channel in short term

Posted on December 16, 2020 at 1:53 pm GMT

The JP 225 index attempted to break the upper border of the ascending channel at 26,950 several times in the past, but its efforts proved unsuccessful. Nevertheless, the positive market structure consisted of higher lows, while the short-term oscillators are also not yet in favor of the bears; the RSI is moving sideways above its 50 neutral mark and the MACD has stabilized its momentum in the positive area and is currently moving around its red signal line. However, the [..]

Technical Analysis – US 500 index gaps higher; holds all-time-high in its scope

Posted on December 14, 2020 at 3:48 pm GMT

The US 500 index (Cash) gapped above the 50-period simple moving average (SMA) today on the four-hour chart, re-establishing a positive bearing towards the upper Bollinger band and the recent all-time high of 3,715. The dictating bullish bearing in the SMAs remains robust even though the 50-period SMA’s upward pace is marginally easing. The short-term oscillators are reflecting a pickup in positive momentum. The MACD, above its red trigger line, is pushing over its neutral threshold, while the RSI is [..]

Technical Analysis – US 500 index gaps higher; holds ATH in its scope

Posted on December 14, 2020 at 3:05 pm GMT

The US 500 index (Cash) gapped above the 50-period simple moving average (SMA) today re-establishing a positive bearing towards the upper Bollinger band, near the recent all-time high of 3,715. The dictating bullish bearing in the SMAs remains robust even though the 50-period SMA’s upward pace is marginally easing. The short-term oscillators are reflecting a pickup in positive momentum. The MACD above its red trigger line is pushing over its neutral threshold, while the RSI is trying to improve in [..]

Technical Analysis – US 30 index falls slightly; broader outlook is positive

Posted on December 11, 2020 at 10:32 am GMT

The US 30 stock index (Cash) is edging south from its freshly logged all-time-high of 30,313.56. Positive sentiment seems to be taking a breather as the momentum indicators are losing some momentum. The MACD, in the positive region, is holding below its trigger line, while the RSI is exhibiting a stalled positive picture. However, the bullish 50- and 100-day simple moving averages (SMAs) could boost the price, sending the index to uncharted peaks. In a bullish scenario, immediate resistance may develop [..]

Technical Analysis – UK 100 index eases slightly but upside risks remain

Posted on December 9, 2020 at 4:17 pm GMT

The UK 100 index (Cash) seems to be fading from its newly formed nine-month high of 6,623 as positive momentum is losing steam. Nevertheless, the simple moving averages (SMAs) are maintaining their bullish tone, preserving the positive structure. That said, the short-term oscillators are suggesting a strengthening of the negative price action. The MACD, in the positive zone, is sliding underneath its red trigger line, while the RSI is falling in bullish territory. Moreover, the stochastic oscillator has adopted a [..]

Technical Analysis – US Dollar index holds near 32-month trough; strongly negative

Posted on December 8, 2020 at 1:49 pm GMT

The US dollar index has been in a significant bearish tendency since March 3 and last week the price posted a fresh 32-month low of 90.42. Looking at momentum oscillators on the daily chart though, they suggest an upside pullback on price. The stochastic oscillator created a bullish crossover within its %K and %D lines in the oversold territory, while the MACD is flattening beneath its trigger and zero lines. Further declines may be on the cards if the index [..]

Technical Analysis – US 500 index tests another all-time high

Posted on December 7, 2020 at 10:16 am GMT

The US 500 index (cash) is retreating from the record high of 3,705.39, reached earlier today. The technical indicators are currently suggesting a possible retracement in the short-term. The RSI pulled back from the overbought territory, while the %K line of the stochastic oscillator posted a bearish crossover with the %D line above the 80 level. If the price falls further, it could touch the 3,589 barrier before heading south towards the 50- and 100-day simple moving averages (SMAs) currently at 3,500 [..]

Technical Analysis – US 30 index conveys confidence above MAs

Posted on December 4, 2020 at 1:35 pm GMT

The US 30 stock index (Cash) is tiptoeing higher after finding traction off the 100-period simple moving average (SMA), attached to the lower surface of the Ichimoku cloud. Although the Ichimoku lines are fairly directionless, the red Tenkan-sen line is nudging the price marginally higher. The indices’ positive structure appears safeguarded above the support zone of 28,838-28,957 and is being defended by the improving trajectory of the SMAs. The short-term oscillators are echoing intact positive momentum. The MACD, slightly above [..]

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