Indices

Technical Analysis – US500 stock index increasingly bullish as it approaches all-time high

Posted on July 25, 2018 at 2:23 pm GMT

The US 500 stock index (cash) reached a near 6-month high of 2829.70 on Tuesday, with the index now having retraced about 80% of its January/February losses. The near-term bias remains strongly bullish according to the momentum indicators. The RSI is climbing and has yet to rise into overbought territory, while the %K line of the stochastic oscillator recorded a bullish crossover with the slower moving %D line. Both indicators suggest there is scope for additional gains in the short [..]

Technical Analysis – Japan 225 index finds support near 20-SMA; neutral bias still in place

Posted on July 24, 2018 at 1:41 pm GMT

Japan 225 index is paring some of the previous three days’ losses after the bounce off the 20-day simple moving average (SMA). Having a look at the medium-term picture the price has been developing within a consolidation area since April with upper boundary the 23000 handle and lower boundary the 21445 support. Momentum indicators in the daily chart are currently supporting the neutral to positive momentum and are likely to strengthen in the short-term. Specifically, the RSI is picking up speed above 50, while the MACD continues to [..]

Technical Analysis – German 30 index eases following bounce off 12,645; neutral picture in medium term

Posted on July 11, 2018 at 1:25 pm GMT

The Germany 30 stock index has been plunging since yesterday after the significant pullback on the 12,645 resistance level. The sharp sell-off has driven the price below the mid-level of the Bollinger Band (20-day simple moving average), indicating further downside pressure. Looking at the daily timeframe, the RSI indicator holds slightly below the 50 level and is sloping down. Moreover, the stochastic oscillator posted a downward crossover – the %K line moved below the %D in the overbought zone, suggesting that the price action would continue to head lower in the [..]

Technical analysis – US 30 index trades within a triangle, break on either side may determine bias

Posted on July 6, 2018 at 11:27 am GMT

The US 30 index has been trading within a symmetric triangle formation since its plunge in early-February, posting higher lows but also lower highs on the daily chart. The outlook currently appears neutral, with a decisive break on either side of the aforementioned triangle needed to determine the medium-term bias. Looking at short-term momentum oscillators, they suggest the next move may be to the downside. The RSI was recently rejected from near its neutral 50 level and has turned down [..]

Technical Analysis – US Dollar Index erases gains after posting almost 1-year high

Posted on July 3, 2018 at 1:04 pm GMT

The US Dollar Index is looking more neutral as prices are still developing within the 93.80 support level and the 95.20 resistance barrier. It is worth mentioning that the price jumped to an almost fresh one-year high of 95.22 on June 28 after the bounce on the 93.80 support and the 20-day simple moving average (SMA) but later reversed sharply to the downside. The neutral bias in the near term is also supported by the RSI, which has been hovering near the 50-neutral level [..]

Technical Analysis – US 500 index retreats after red day; develops in ascending triangle in long term

Posted on June 26, 2018 at 12:59 pm GMT

The US 500 index recorded a strong bearish day on Monday, losing more than 1% from its performance but remained above the 50-day simple moving average (SMA). However, the index is trading within an ascending triangle started on February 6, but there is no change in the longer timeframe from the latest movement. Momentum indicators in the daily chart though are currently supporting that the negative momentum is likely to strengthen in the short-term. Specifically, the RSI is flattening below 50 and the MACD continues the [..]

Renewed tech-euphoria propels Nasdaq to new records – Index News

Posted on June 22, 2018 at 10:44 am GMT

Major global equity indices are slowly trying to recoup the losses they posted earlier in the year, though some are recovering much better than others. The Nasdaq index has already mended its wounds and managed to break multiple new record-highs lately, propelled higher by a renewed rally in tech stocks, which investors seem to favor in the face of global trade risks despite their “pricey” valuations. After a bumpy start to the year, major stock indices appear to have slowly [..]

Technical Analysis – German 30 stock index loses momentum after creating double top

Posted on June 18, 2018 at 1:09 pm GMT

The Germany 30 stock index has plunged today after the significant bounce on the double top level near the 13200 barrier. The sharp sell-off has driven the price towards the 50- and 200-simple moving average (SMA) in the medium-term, which are expected to post a bullish crossover in the next few sessions if the price recoups the losses. Looking at the daily timeframe, the RSI indicator holds near the 50 level and is sloping down; some caution may be warranted given that the indicator is trying to enter the negative territory. Moreover, [..]

Italian stocks rebound sharply as political crisis eases but persisting risks keep FTSE MIB well off highs – Index News

Posted on June 14, 2018 at 12:59 pm GMT

Italy’s leading share index, the FTSE MIB, rallied sharply at the start of the week after comments by the country’s new economy minister helped restore some confidence about Italy’s future in the Eurozone. Italian stocks have taken a hammering since early May when the two anti-establishment parties, the 5-Star Movement and the League, started making progress in forming a coalition government after months of uncertainty following the inconclusive elections in March. The FTSE MIB plunged by nearly 14% from [..]

Technical Analysis – UK 100 index turns neutral in short term after bearish correction

Posted on June 12, 2018 at 1:33 pm GMT

UK 100 index is looking more neutral as prices have struggled below the 7770 key resistance level and also touched a couple of times the 23.6% Fibonacci retracement level of 7633 of the upleg from 6760 to 7905, in the previous days. Hence, the upside momentum appears to be running out of steam as the short-term technical indicators are moving lower. In the daily timeframe, the RSI indicator is pointing down near the threshold of 50, while the MACD oscillator is falling [..]

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