Indices

Technical Analysis – US 30 index cautiously negative in short run, neutral overall

Posted on December 7, 2018 at 10:51 am GMT

The US 30 index remains on the back foot, having crossed back below its 50- and 200-day simple moving averages (SMAs) in recent sessions. The price structure of lower highs on the daily chart suggests the bias is negative at the moment, but not clearly so, as the SMAs are converging; an indication the longer-term picture is turning more neutral. Short-term oscillators support the case. The RSI – although below its neutral 50 line – seems to be flattening, while [..]

Technical Analysis – US 100 index pares losses below SMAs bearish cross

Posted on December 5, 2018 at 2:01 pm GMT

The US 100 index edged aggressively lower in Tuesday’s session as the bears continue to pull the price below the 50- and 200-simple moving averages (SMAs) and the 38.2% Fibonacci retracement level of the upleg from 6160 to 7700, around 7100. Today, the price is paring some losses and momentum indicators point slightly to the upside in the near term. The RSI lies near the neutral threshold of 50 and the MACD oscillator jumped above the trigger line but remains in negative territory. Should [..]

Technical Analysis – Dollar index consolidates gains within ascending channel

Posted on December 5, 2018 at 11:27 am GMT

The dollar index has been moving sideways after unlocking 1 ½-year highs at 97.50 within the ascending channel. In the short term, consolidation will likely continue as the red Tenka-sen line looks to be steadying again above the blue Kijun-sen line which is also flat, while the MACD has slipped below its red signal line, though marginally. On the upside, the index could retest the previous highs of 97.42 and 97.50 which are not far away from the middle bound of [..]

Technical Analysis – JP225 stock index slumps to 2-week lows; bias still negative

Posted on December 5, 2018 at 9:34 am GMT

Japan 225 stock index peaked at 22,778 on Monday, the highest since mid-October but on Tuesday the market faced severe pressure, dropping straight down to an almost two-week low of 21,568 and back below the 200-period simple moving average (SMA) on the four-hour chart. Today the index is in recovery as the recent sell-off appeared overstretched according to the RSI, with the indicator rebounding off the 30 oversold level. The MACD, though, hasn’t shown any improvement yet, extending negative momentum below its red signal [..]

Technical Analysis – US 30 index crosses above 200-day SMA; bullish long-term outlook still at play

Posted on November 29, 2018 at 11:05 am GMT

The US 30 index has been heading sharply higher over the previous three days, finding strong support on the rising trend line. The price successfully surpassed the 200-simple moving average (SMA) in the daily timeframe and the momentum indicators are endorsing the bullish view. The MACD oscillator turned higher above its signal line, while the %K line of the stochastic oscillator stands in the overbought zone. Should the price continue to head north, the 50-day SMA is the next obstacle to look for around 25,557. [..]

Technical Analysis – GER 30 index moves above 2-year low but medium-term outlook remains bearish

Posted on November 27, 2018 at 2:06 pm GMT

The Germany 30 index gained ground after touching a two-year nadir of 11,006.50 last week and is currently trading roughly 300 points above the aforementioned bottom. Despite the move up, the Tenkan- and Kijun-sen lines remain negatively aligned, which is indicative of a bearish short-term bias. However, the Kijun-sen has halted its decline, pointing to weakening negative momentum. Moreover, the stochastics are giving a bullish signal in the very short term, as the %K line is above the %D one and both [..]

Technical Analysis – US 30 index hovers around uptrend line; rebound is expected

Posted on November 23, 2018 at 12:53 pm GMT

The US 30 index is moving lower, approaching again the ascending trend line, which has been holding since February 2. Also, the index dropped below the 50- and 200-simple moving averages (SMAs) in the daily timeframe, while the momentum indicators are supportive of the bearish structure. The MACD oscillator has dived below the trigger line with strong momentum and the RSI holds in bearish zone with weak movement. Should the price continue to head south, it would be interesting to [..]

Technical Analysis – US100 stock index hits 7-month low; turns increasingly bearish

Posted on November 21, 2018 at 3:17 pm GMT

The US 100 stock index plunged to a 7-month low of 6439.25 yesterday as the bears continue to pull the price further below the index’s all-time high of 7701.35 set on October 1. Momentum indicators point to further weakness in the near term, with the stochastics falling towards oversold territory, while the RSI lies deep in the bearish zone. However, the RSI has ticked higher today, suggesting a moderation of the negative momentum. Should the sell-off resume, the 123.6% Fibonacci [..]

Technical Analysis – GER 30 index extends losses to eye 2-year low

Posted on November 20, 2018 at 11:15 am GMT

The Germany 30 index is declining for the third straight day and is currently trading not far above its lowest since December 2016 of 11,047.80 hit in late October. The Tenkan- and Kijun-sen lines are negatively aligned in support of a bearish bias in the short term. Additional declines may find support around the near two-year nadir of 11,047.80; the area around this also encapsulates the 11,000 mark that may be of psychological significance. Below, the zone around 10,800 that halted advances [..]

Technical Analysis – Spain 35 index stuck below 23.6% Fibonacci mark; negative in long-term

Posted on November 19, 2018 at 12:12 pm GMT

The Spain 35 index was underperforming in the previous sessions and remains below the 23.6% Fibonacci retracement level of the downleg from 11197 to 8620, near the 9230 resistance barrier. The technical indicators, though, are flattening near their neutral levels. The RSI indicator holds slightly above 50 level and the MACD oscillator stands above its trigger line. A continuation of the bearish structure could see the index challenge the mid-level of the Bollinger Band at 8973. More losses could see the index next touching the almost [..]

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