Indices

Technical Analysis – EU 50 index turns bearish in short-term; lacks direction in long-term

Posted on September 11, 2018 at 12:45 pm GMT

The EU 50 stock index has declined considerably after touching the 3460 resistance level, recording two straight bearish weeks. On Friday, the price posted a five-month low of 3274.70, while it is currently not far above that nadir. The momentum indicators are supportive of the bearish picture, with the RSI standing below the threshold of 50 and approaching the 30 oversold mark. Moreover, the MACD oscillator is falling sharply below the trigger and zero lines. Immediate support is coming from the 3274.70 bottom, while an [..]

Technical Analysis – US 500 index near-term momentum turns south; still bullish in the medium-term

Posted on September 5, 2018 at 1:49 pm GMT

The US 500 index has declined after touching an all-time high of 2,916.50 on August 29. Still, the benchmark continues to trade relatively close to its record peak. The RSI has reversed lower after entering overbought territory last week and continues to head down, supporting the view that near-term momentum has turned negative. The stochastics are also projecting a bearish picture in the very short-term: the %K and %D lines are negatively aligned and are moving lower. A move back [..]

Technical Analysis – Japan 225 index creates downside rally; could weaken further in short term

Posted on September 5, 2018 at 12:33 pm GMT

Japan 225 index has recorded a stunning downward rally following the touch on the 23116 resistance level in the prior week and is moving towards the moving averages in the daily chart. The technical indicators, continue to send bearish signals, suggesting that the softness in the market is not over yet. The RSI indicator is in progress to drop below the threshold of 50, while the MACD oscillator posted a bearish crossover with its trigger line. Should prices decline further and fall [..]

Special Report – With US stocks hitting all-time highs, are they still a buy?

Posted on August 31, 2018 at 1:14 pm GMT

As US stock indices break fresh highs, the question on everyone’s mind is how much longer the current bull market can continue. The remarkable resilience of US equities to trade tensions and rising interest rates, combined with a robust US economy, suggest the late-cycle party is unlikely to end over the coming months. Looking further ahead into 2019 though, the outlook becomes much more clouded, warranting a more prudent approach. After an inflation scare spooked equity investors in the early [..]

Technical Analysis – US 30 index close to 6-month high; positive momentum weakens

Posted on August 29, 2018 at 10:23 am GMT

The US 30 index (Dow Jones Industrial Average) touched a fresh six-month high of 26,147.50 during Tuesday’s trading, while it is currently trading not far below this peak. The RSI is comfortably in bullish territory above 50, though it has eased somewhat, pointing to weakening positive momentum in the short-term. Additionally, notice that the indicator is marginally above the 70 overbought level. A drop in the index could meet support around the 26,000 handle which may carry psychological significance. Steeper [..]

Technical Analysis – US100 stock index rallies to fresh record highs, near overbought territory

Posted on August 28, 2018 at 11:48 am GMT

The US100 stock index (NASDAQ 100) continues to rise above the Ichimoku cloud, remaining inside a bullish channel over the past four months, stretching its upward pattern to a fresh record high of 7,581.70 on Tuesday. According to the MACD, positive momentum could push for further gains in the short-term as the indicator picks up steam above its red signal line. The RSI is also advancing, though, it is relatively close to the 70 overbought threshold; negative corrections cannot be excluded should it move above 70. In the positive [..]

Technical Analysis – CHI50 stock index flirts with long-term downtrend line; neutral to bullish in short-term

Posted on August 27, 2018 at 10:50 am GMT

China 50 stock index (CHI50) resumed its bullish mode after it failed to break a strong support at the 18-month trough of 10,826 first reached in early July, rising back above the 11,000 handle. Momentum indicators have improved as well, with the RSI surpassing slightly the 50 mark and the MACD increasing strength to the upside and above its red signal line. However, these could be considered weak bullish signals for the short-term given that both indicators hold near their neutral thresholds [..]

Technical Analysis – US Dollar Index heads lower but remains in upward pattern

Posted on August 21, 2018 at 1:13 pm GMT

The US Dollar Index has declined considerably over the last three days following the bounce off the more than one-year high of 96.85, reached on August 15. The sharp sell-off, especially in the past sessions, has shifted the near-term bias from positive to negative. However, the price moved up after challenging the 20-day simple moving average (SMA) today, recovering on a significant part of its intraday losses. The momentum indicators are supportive of the bearish picture, with the RSI falling to approach the 50 level, while the [..]

Technical Analysis – EUR50 slips to 7-week lows; looks for a rebound

Posted on August 16, 2018 at 2:24 pm GMT

EUR50 stock index lost 1.8% on Wednesday to find support at the 7-week low of 3,340 which stood as a barrier to downside as well as to upside corrections a number of times in the past. This is also where the 78.6% Fibonacci retracement of the upleg from 3,260 to 3,593 is currently located. In the short-term, bearish pressures are likely to hold as the MACD increases strength to the downside in negative territory and below its red signal line. However, according to the RSI and the Stochastics, the recent fall could [..]

Technical Analysis – US 30 index eases after hitting 5-month high; remains in bullish outlook

Posted on August 8, 2018 at 1:35 pm GMT

US 30 index has been in a flying mode in the past four consecutive days, creating a new more than a five-month high of 25691.10. The upward pattern started at the late of March, however, today, the price seems to have a red day. In addition, the technical indicators are turning slightly to the downside as the RSI bounced off the overbought level and the stochastic oscillator is flattening in the positive area. As prices are still holding above the simple [..]

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