Indices

Technical Analysis – US 30 index withdraws from fresh high; bullish bias intact

Posted on September 4, 2020 at 7:24 am GMT

US 30 stock index (Cash) retreated from the vicinity of 29,168, that being the 150.0% Fibonacci extension of the down wave from 27,632 to 24,560. The positive picture seems safeguarded by the advancing 50- and 100-day simple moving averages (SMAs), and may receive a boost from the approaching bullish crossover of the 200-day SMA by the 100-day one. Additionally, the progressing Ichimoku lines further service the ascent in the index. At the moment the short-term oscillators suggest the recoil from [..]

Technical Analysis – UK 100 index looking increasingly negative below SMAs

Posted on September 1, 2020 at 3:20 pm GMT

UK 100 stock index’s (Cash) somewhat stalled short-term picture is under strain as the index is encountering growing negative pressures, which are attempting to return a bearish bias. The price is currently testing the 5,850 barrier while the red Tenkan-sen line dips lower. Nonetheless, as things stand, no clear directional signals are reflected in the converging 50- and 100-day simple moving averages (SMAs), while the 200-day SMA maintains a negative bearing. That said, the RSI is falling in bearish territory, [..]

Technical Analysis – Japan 225 index struggles below 6-month high; slightly bullish

Posted on September 1, 2020 at 1:06 pm GMT

The Japan 225 index has been in a slightly bullish tendency over the last two-and-half months, hovering above the strong 200-day simple moving average (SMA). The RSI, in the positive territory, is pointing north, while the MACD, above the zero level, is moving horizontally and confirming the recent weak momentum on price action. Should the price stretch higher, the 23,445 level which the bulls were unable to break in the preceding week could provide immediate resistance. Moving higher, the focus [..]

Technical Analysis – US 500 index logs new all-time high; bullish bias intact

Posted on August 31, 2020 at 12:36 pm GMT

US 500 index (Cash) broke above 3,396.64, accelerating over the last week towards a fresh all-time high of 3,526.31. The advancing Ichimoku lines reflect a sturdy positive tone above the cloud. Moreover, the recent bullish crossover of the 200-day simple moving average (SMA) by the rising 100-day one could further reinforce the positive picture. The short-term oscillators convey strong positive momentum, which is sponsoring the improving picture. The MACD, in the positive region, has moved above its red trigger line, [..]

Technical Analysis – US 30 index hits a snag, ascent dwindles into cloud

Posted on August 21, 2020 at 9:57 am GMT

US 30 stock index (Cash) drifted into the Ichimoku cloud and under the now capping 50-period simple moving average (SMA) after reaching a 5½-month high of 28,154. The waning positive momentum in the index is sponsored by the negative tone of the Ichimoku lines and, specifically, the fading red Tenkan-sen line. The short-term oscillators further support the negative move in the pair. The RSI slipped below its 50 neutral mark, while the stochastic oscillator cemented its bearish demeanour, breaking below [..]

Technical Analysis – US 500 index strongly bullish; looking overbought

Posted on August 19, 2020 at 12:45 pm GMT

The US 500 index reached another all-time high of 3,397.36 earlier today as the index extends one of its fastest bulls run in its history. The momentum indicators are looking overbought as the RSI is flattening near the 70 level, while the MACD is moving sideways in the positive territory. Should prices reverse lower, immediate support could come at the red Tenkan-sen and the blue Kijun-sen lines at 3,360 and 3,290 respectively ahead of the 3,200 support, which coincides with [..]

Technical Analysis – CHI 50 index consolidates above SMAs, endures negative pressures

Posted on August 14, 2020 at 12:47 pm GMT

China A50 index (Cash) is floating sideways towards the Ichimoku cloud, following a pullback from the 16,404 top, which has kept positive momentum at bay. Nevertheless, the positively charged 50- and 100-day simple moving averages (SMAs) and their bullish crossovers with the 200-day SMA could maintain the broader positive picture intact for a while longer. That said, the MACD is holding in the positive region, trailing below the red trigger line, while the RSI is trying to pick up off [..]

Technical Analysis – US 30 index pulls back from 5½-month high

Posted on August 14, 2020 at 9:24 am GMT

The US 30 index has been in an upside tendency since March 23, reaching a new five-and-a-half month high of 28,180. The price is standing above the ascending trend line and the long- and short-term simple moving averages (SMAs), and the MACD oscillator is still holding above the trigger and zero lines. However, the RSI is returning lower after the bounce off the 70 level. A decline below the 27,639 support could open the way for a retest of the [..]

Technical Analysis – JP 225 index gains some traction above SMAs

Posted on August 12, 2020 at 3:08 pm GMT

Japan 225 stock index (Cash) is currently trailing the upper Bollinger band and has broken above the 23,172 high. The latest climb from 22,665 is acquiring positive ground after passing recent highs, something also suggested by the short-term oscillators. The MACD, some distance in the positive region, is strengthening above its red trigger line, while the upward sloping RSI ascends back above the 70 mark. Additionally, should the 50-period simple moving average (SMA) complete a bullish crossover of the horizontally [..]

Technical Analysis – GER 30 index denied further advances above MAs

Posted on August 11, 2020 at 3:22 pm GMT

Germany 30 index (Cash) was deprived of additional gains after the index shot above the 100-period simple moving average (SMA), escaping a region where the SMAs had converged. The price appears to have retreated from a limiting level in-line with the upper surface of the Ichimoku cloud around 13,047. Looking at the relatively flattened SMAs, they too reflect the short-term neutral mode that the price has adopted, despite the sudden strength in the index. The Ichimoku lines have stalled their [..]

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