Indices

Technical Analysis – Spain 35 index holds in inverse head and shoulders formation in near term

Posted on February 18, 2019 at 1:50 pm GMT

The Spain 35 index has been developing within an inverse head and shoulders pattern over the last three months with head the more than two-year low of 8277 and neckline the 9230 resistance level. Currently, the price is testing the upper band of the long-term downward sloping channel and seems to be ready for a jump above both formations, starting a new bullish rally in the daily timeframe. Zooming to the technical indicators, the MACD oscillator is in progress to [..]

Technical Analysis – US 500 index jumps towards 2-month high above 200-SMA

Posted on February 14, 2019 at 10:02 am GMT

The US 500 stock index has had a bullish run above the strong obstacle of the 200-day simple moving average (SMA) and the 61.8% Fibonacci retracement level of the downleg from 2940 to 2332, indicating an upward tendency. Prices hit a two-month high of 2762 earlier today and the technical indicators are all pointing to further positive momentum in the short term. The RSI indicator is heading upwards approaching the overbought territory, while the MACD oscillator posted a bullish cross with the [..]

Technical Analysis – US 500 stock index finds resistance at 200-SMA, hovers around 61.8% Fibonacci

Posted on February 11, 2019 at 1:11 pm GMT

US 30 stock index found strong resistance obstacle at the 200-simple moving average (SMA) in the daily timeframe, hovering around the 61.8% Fibonacci retracement level of the downleg from 2,940 to 2,332, near 2,708. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies near the trigger and zero lines. A fresh wave of advances may stall initially near the 200-SMA, but a successful jump above this key level would increase chances for a touch of the [..]

Technical Analysis – US 100 index may challenge 200-SMA roof; bullish in near term

Posted on February 6, 2019 at 12:15 pm GMT

The US 100 index (NASDAQ 100) has been in a positive tendency after the jump above the 61.8% Fibonacci retracement level of the downleg from the all-time high of 7700 to the 14-month low of 5845, around 6995. Currently, the price remains below the 200-day simple moving average (SMA), which is acting as a strong resistance level for the bulls. Momentum indicators in the daily chart, though, are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is holding above [..]

Technical analysis – US 30 index clears 200-day SMA, seems positive in immediate term

Posted on February 1, 2019 at 1:23 pm GMT

The US 30 index has continued to recover in recent sessions, managing to close above its 200-day simple moving average (SMA) on January 31. Combined with the fact that recent price action consists of higher highs and higher lows, the bias seems to have turned back to positive in the immediate term. The RSI, though, suggests that a pullback may be on the cards, as it appears to have met resistance near its overbought zone and turned lower. The MACD, [..]

Technical Analysis – UK 100 index creates upside rally in short term

Posted on January 30, 2019 at 2:07 pm GMT

UK 100 stock index (FTSE 100) is set to record another strong green day, surging above the 50-simple moving average (SMA) and the 23.6% Fibonacci retracement level of the downleg from 7900 to 6533 around 6858 in the daily chart. The RSI now suggests that the market sentiment might get better as the index is moving in the positive territory. If the price manages to continue bullish actions and surpasses the 7000 level, the 38.2% Fibonacci retracement level of the downleg from 7900 [..]

Technical Analysis – US 500 stock index rebounds on 50-day SMA, signaling new upside wave

Posted on January 23, 2019 at 12:52 pm GMT

The US 500 stock index found strong support level at the 50-day simple moving average (SMA), creating two consecutive red days, after the aggressive upside rally from the 19-month low of 2,332. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies above trigger and zero lines. A fresh wave of advances may stall initially near the latest highs of 2,675 before increasing chances for a jump towards the 61.8% [..]

Technical analysis – US 30 index crosses above 50-day SMA, neutral in short-term

Posted on January 18, 2019 at 10:57 am GMT

The US 30 index staged a major recovery in recent weeks, after touching an 18-month low on December 26. Price action is now taking place back above the 50-day simple moving average (SMA), which suggests the near-term outlook has shifted back to neutral, from negative previously. Further advances in the index could encounter immediate resistance near the 24,830 zone, defined by the peaks of December 12. An upside break could open the way for a test of the 200-day SMA [..]

Technical Analysis – GER30 stock index en route to third weekly gain

Posted on January 17, 2019 at 2:51 pm GMT

The German 30 stock index (DAX 30) has been on the rise since the day it dropped to a two-year low of 10,276 and is now set to register its third weekly gain slightly above the 20-day simple moving average. The short-term bias looks currently neutral to bullish as the RSI moves along the 50 line and the MACD keeps strengthening above its red signal line and towards zero. On the upside, the bulls could push to break the 11,000 support-turned-resistance level which [..]

Technical Analysis – US 100 index continues the rebound on 14-month low with slower momentum

Posted on January 15, 2019 at 1:54 pm GMT

The US 100 stock index (NASDAQ 100) has reversed back to the upside, hitting the 50-day simple moving average (SMA). Currently, the price is hovering around the 38.2% Fibonacci retracement level of the downleg from 7700 to 5845, near 6555. Momentum indicators in the daily chart though are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed above 50 and the MACD continues to distance itself above its red signal line. Should the price decisively close above the roof [..]

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