Indices

Technical Analysis – UK 100 index sinks after impressive rally

Posted on August 11, 2020 at 1:42 pm GMT

The UK 100 index created an impressive bullish run today, overcoming the 6185 barrier and returning quickly lower. The mixed signals in the short-term oscillators reflect a possible stall in the price. The MACD has barely inched above its red trigger line in the positive region, while the stochastic %K line promotes weakness as it is turning lower in the overbought territory. However, the Ichimoku indicator is endorsing a bullish scenario as the red Tenkan-sen line stands above the blue [..]

Technical Analysis – US 500 index preserves positive objectives

Posted on August 10, 2020 at 9:34 am GMT

US 500 stock index (Cash) seems to be aiming its course towards unfamiliar territory above the all-time high of 3,396.64. The price has been steadily heading higher after finding traction again at the 100-period simple moving average (SMA) and the Ichimoku cloud in previous sessions. Aiding this progression from the 2,995 level are the advancing Ichimoku lines and the positive bearing in the SMAs. That said, the index’s positive momentum has weakened slightly as suggested in the short-term oscillators. The [..]

Technical Analysis – US 30 index stalls positive push above 200-SMA

Posted on August 7, 2020 at 12:46 pm GMT

US 30 stock index (Cash) recently thrusted above the 26,880 level, that being the 76.4% Fibonacci retracement of the down leg from 29,582 to 18,170, after finding some traction from the 200-day SMA at 26,295. The index’s positive momentum has slowed slightly as reflected in the short-term oscillators. The MACD, holding relatively steady in the positive region, has barely moved above its red trigger line, while the RSI has reversed ahead of the 70 mark. Furthermore, the Stochastics are located [..]

Technical Analysis – US 500 index struggles to maintain positive picture around 5-month high

Posted on August 3, 2020 at 12:51 pm GMT

US 500 index (Cash) is encountering strong resistance around the recent five-month high of 3,292.24. The price appears to have somewhat stalled for now, something also suggested by the flattened Ichimoku lines. The short-term oscillators further reflect the pause in positive momentum. The MACD, in the positive region, continues to float just below its horizontal red trigger line while the RSI is holding in bullish territory. Additionally, the stochastic lines are rising in overbought territory, the RSI is pointing slightly [..]

Technical Analysis – US 500 index’s positive picture struggles around 5-month high

Posted on August 3, 2020 at 12:23 pm GMT

Technical Analysis – US 100 index not ready to give up bullish run

Posted on July 31, 2020 at 11:12 am GMT

The US 100 stock index (cash) drifted higher and above the previous peak of 10,743 on Thursday, hinting that it is not ready to give up its positive trajectory yet. The 10,950 resistance level is keeping the bulls busy in the four-hour chart today. Should it fail to hold, the index could advance towards its record highs registered around 11,069. At this point, it would be interesting to see if the market creates a bearish triple top formation or extends [..]

Technical Analysis – Dollar index stabilizes 7-day bearish strike near 2-year lows

Posted on July 28, 2020 at 9:43 am GMT

The US dollar index (futures) found a bottom around an almost two-year low of 93.40 after a seven-day bearish strike, which put the market back on a negative path. While the Stochastics and the RSI in the four-hour chart signal that the market has reached the edge of the oversold territory as the indicators move upwards, the index has now a long way to go to cross the 97.77 border and hence eliminate fears of a down-trending market. The strenghthening MACD oscillator is also [..]

Technical Analysis – US 500 index spots bearish divergence; triangle in focus

Posted on July 27, 2020 at 12:23 pm GMT

The US 500 index (cash) stabilized near the 3,200 familiar support level after two consecutive bearish days. Previously, the market had printed a new higher high at 3,292, further strengthening the four-month old uptrend. However, the RSI seems to have registered a lower peak at the same time, increasing worries about a bearish divergence. The slowing MACD, which has slipped below its red signal line, is another discouraging signal. Selling orders could pick up momentum if the price drops below [..]

Technical Analysis – US 30 index dives after reaching 1-month high again

Posted on July 24, 2020 at 9:59 am GMT

The US 30 cash index is tumbling over the last couple of sessions in the 4-hour chart, penetrating the 50-period simple moving average (SMA) and moving towards the 100-period SMA. From the technical viewpoint, the RSI is falling beneath the neutral threshold of 50, while the MACD is losing momentum below its trigger line. More losses could take the index towards the 38.2% Fibonacci retracement level of the up leg from 24,556 to 27,171 at 26,174, which overlaps with the [..]

Technical Analysis – GER 30 index bullish above trendline and near 12,960 resistance

Posted on July 22, 2020 at 12:22 pm GMT

The German 30 stock index (cash) has been stubbornly testing the 12,960 key resistance level over the past four days as the strong ascending trendline has been nicely supporting the market. In momentum indicators, the RSI managed to gain additional ground in the bullish area, while the MACD has slowly risen above its red signal line, both hinting that the short-term risk is still tilted to the upside. Whether the index can find new buyers now, may depend on the [..]

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