Indices

Technical Analysis – JP225 stock index stalls downtrend at 15-month lows

Posted on January 11, 2019 at 9:05 am GMT

Japan’s 225 stock index (Nikkei 225) gained some ground after dropping to a 15-month low of 19,239 in the first week of the year and is now looking for a cross above the 20-day simple moving average. In the short term the index could consolidate as the RSI is ready to touch its 50-neutral mark, while the MACD continues to improve towards the zero line. The red Tenkan-sen line is flattening after a small rebound, supporting this view as well. [..]

Technical Analysis – UK 100 index finds resistance near 50-day SMA

Posted on January 10, 2019 at 12:22 pm GMT

UK 100 stock index (FTSE 100) has rebounded somewhat after falling to a two-year low of 6533 on December 27, hitting the 50-day simple moving average (SMA). Momentum indicators now suggest that the market sentiment might get better as the RSI is moving in the positive territory. The MACD also looks to be changing direction, moving higher to meet its zero line in the negative zone. If the price manages to continue bullish actions and surpass 6900, the 38.2% Fibonacci retracement level [..]

Technical Analysis – US 30 stock index bullish correction in progress; medium term bias remains negative

Posted on January 7, 2019 at 12:58 pm GMT

The US 30 stock index managed to test the 38.2% Fibonacci retracement level (23,645) of the downward move from 26,960 to 21,596 today after a buoyant rally last Friday. Technical indicators are suggesting more gains in the short term, with the MACD jumping above its trigger line in negative terittory and the RSI approaching its 50 neutral level, though with weaker momentum. On the upside, traders would be eagerly looking for a break above today’s top of 23,637 to increase buying orders. If that’s the case, the rally could [..]

Equities year ahead 2019: Grim outlook weighs on earnings but is the gloom justified?

Posted on January 3, 2019 at 12:22 pm GMT

After a year that saw the S&P 500’s bull run become the longest in history and then abruptly end, giving way to a steep correction, investors are increasingly nervous that 2019 may be an even more challenging period as the US economic cycle appears to be nearing its final stages. Global central banks are withdrawing stimulus at a time when growth is moderating to more normal levels and geopolitical risks linger. Hence, volatility is set to remain elevated, and while [..]

Technical Analysis – GER 30 stock index set for the fifth monthly loss

Posted on December 27, 2018 at 3:44 pm GMT

The GER 30 stock index (DAX 30) is heading for its fifth monthly loss, dropping to a fresh 2-year low of 10,301 on Thursday. According to the RSI and the Stochastics which have entered oversold terittory, the market could see some upside in the short-term. Yet as long as the price maintains the lower highs and lower lows pattern below its moving averages and the Ichimoku cloud, the downtrend is not likely to be reversed anytime soon. The selling could continue until [..]

Technical Analysis – US 500 stock index rebounds sharply, but outlook still negative

Posted on December 27, 2018 at 11:14 am GMT

The US 500 stock index posted sizeable gains on Wednesday, after it touched its lowest level since April 2017. Notwithstanding the latest rebound, considering that the price structure on the daily chart consists of lower lows, and that the 50-day simple moving average (SMA) remains firmly below the 200-day one, the bigger picture is still negative. Short-term oscillators support the notion, as the RSI is pointing down and looks to be headed for a test of its oversold 30 level [..]

Technical Analysis – US 500 index moves above 14-month trough; outlook switches to negative

Posted on December 18, 2018 at 2:07 pm GMT

The US 500 index had a bearish start on Monday, with the price breaking a crucial support at 2600 to drop towards a 14-month low of 2529.80 and taking its year-to-date losses to 4.7%. The price has also increased distance below its negatively sloped moving average lines and the ascending trend line, which had been holding since February 6, indicating that the recent downtrend might hold for longer. However, the price is currently regaining some ground and hovers above the multi-month trough. [..]

Technical Analysis – Dollar index struggles in narrow range; upside tendency in long term

Posted on December 17, 2018 at 10:29 am GMT

The dollar index has been consolidating after flirting with the one-and-a-half-year peaks at 97.50 in the previous week. In the short-term, sideways movement will likely continue as the technical indicators are flattening. The MACD stands below the trigger line with weak momentum, while the Relative Strength Index (RSI) hovers near the 50 level. On the upside, the index could retest the previous highs of 97.50. A decisive close above this region could bring further buying interest into the market, pushing the price [..]

Technical Analysis – UK 100 stock index gains momentum after touching 2-year low

Posted on December 13, 2018 at 2:09 pm GMT

UK 100 stock index (FTSE 100) has rebounded somewhat after falling to two-year low of 6670 on December 6 and momentum indicators now suggest that the market sentiment might get better as the RSI is moving higher in the negative territory. The MACD also looks to be changing direction, moving higher to meet its red trigger line in the negative zone. If the price manages to continue bullish actions and surpass 6900, the 23.6% Fibonacci retracement level of the downleg [..]

Technical Analysis – US 500 index jumps above rising trend line again after negative gap

Posted on December 10, 2018 at 2:42 pm GMT

The US 500 index is trying to recover ground as it opened with a negative gap today. The price is climbing above the rising trend line, continuing the bullish outlook. The RSI is standing below the neutral threshold of 50 and pointing higher, detecting accelerating positive momentum. However, the moving averages completed a “death cross” on the daily chart – the 50-SMA crossed the 200-SMA to the downside. Further upside pressures could drive the price towards the next resistance of the 61.8% [..]

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