INDICES

Technical Analysis – US Dollar Index approaches 2-year high again; positive profile in long term

Posted on May 30, 2019 at 9:24 am GMT

The US dollar index is edging higher towards the two-year high of 98.25 over the last three consecutive days, remaining well above the long-term ascending trend line and the moving averages. The short-term bias is tilted to the upside as the RSI indicator is turning marginally higher in the positive region, while the trigger line of the MACD oscillator is rising in the positive region. If the index moves higher, the two-year high of 98.25 could attract traders’ attention once again and any violation above this [..]

Technical Analysis – US 500 index turns lower between SMAs

Posted on May 27, 2019 at 1:32 pm GMT

The US 500 stock index has declined considerably from the fresh all-time high of 2960.48, penetrating the Ichimoku cloud in the daily timeframe. The bearish correction picture in the short term is further supported by the MACD, which is falling below its red signal line and the RSI indicator which is turning slightly lower. Should prices move lower, support could come at the 23.6% Fibonacci retracement level of the upleg from 2332 to 2960.48 around 2813 again. Below that, the 2784 is another major support before [..]

Technical Analysis – US Dollar Index tries to hit 23-month peak; remains bullish in medium term

Posted on May 22, 2019 at 12:57 pm GMT

The US dollar index is still rising above the 50-day moving average, edging towards the 23-month high of 98.05 achieved on April 25. However, the short-term bias is tilted to the downside as the RSI indicator is turning marginally lower in the positive region, while the stochastic oscillator posted a bearish crossover within the %K and %D lines in the overbought territory, indicating an overreached rally. If the price posts a bearish retracement as the momentum oscillators signal, support is coming at the 96.85 level, which stands near [..]

Technical Analysis – US 30 index eases inside Ichimoku cloud; fails to improve

Posted on May 20, 2019 at 1:01 pm GMT

The US 30 index is trading below the six-month high of 26,712, struggling within the Ichimoku cloud and the between the 50- and 200-simple moving averages (SMAs). The index is on the back foot and the technical indicators suggest that the market could ease a little bit in the short-term; the MACD is flattening in the negative zone, while the stochastic looks be losing momentum. In case of a correction lower, preliminary support may be initially found near 25,500 which is where the 23.6% Fibonacci retracement [..]

Technical Analysis – UK 100 index rises near 40-day average

Posted on May 16, 2019 at 11:54 am GMT

UK 100 stock index (FTSE 100) has advanced considerably over the last couple of days after touching the 7124 support, remaining below the 50-day average. The stochastic oscillator is confirming this view, as it is heading north, approaching the overbought territory. If the price manages more bullish actions and surpasses successfully the 50-SMA, immediate resistance would come from the 61.8% Fibonacci retracement level of the downleg from 7900 to 6533 around 7380. Further up, the index could rest around the 7530-7560 resistance area. On [..]

Technical Analysis – US 500 index looks overstretched after hitting all-time high

Posted on May 9, 2019 at 1:02 pm GMT

The US 30 stock index has declined over the last three consecutive days after it reached another all-time high of 2960.48. Currently, the price is meeting the 2860 support area, which overlaps with the 50-day simple moving average in the daily timeframe, slipping beneath the red Tenkan-sen and the blue Kijun-sen lines. The bearish correction picture in the medium term is further supported by the MACD, which is falling below its red signal line and the stochastic oscillator is moving [..]

Technical Analysis – US Dollar Index retreats below 23-month high

Posted on May 8, 2019 at 12:32 pm GMT

The US dollar index has reversed back down after finding resistance at the 23-month high of 98.05 achieved on April 25. However, the price has remained above the 50-day simple moving average (SMA) over the last five weeks as well as above the uptrend line, which has been standing since September 2018, suggesting upside tendency in the medium term. The short-term bias is tilted to the downside as the RSI indicator is turning marginally lower near its 50 level, while the stochastic oscillator posted bearish [..]

Technical Analysis – US 30 index eases below 6-month high; indicators suggest bearish bias

Posted on May 3, 2019 at 11:13 am GMT

The US 30 index is trading below the six-month high of 26,712, remaining well above the ‘golden cross’ between the 50- and 200-day simple moving averages (SMAs). The index is on the back foot and the technical indicators suggest that the market could ease a little bit in the short-term; the MACD is easing in the positive zone, while the stochastic is approaching the oversold zone. In case of a correction lower, preliminary support may be initially found in the crossroads of the 50-day SMA and the blue [..]

Technical Analysis – US 100 index surges to all-time high; resumes upside outlook

Posted on April 23, 2019 at 9:03 am GMT

The US 100 index surged to a fresh all-time high of 7728 earlier today, confirming the recent significant bullish tendency in the medium- and long-terms and remaining inside the ascending channel following the rebound on the 14-month low of 5845 on December 2016. However, the technical indicators seem to be overstretched, suggesting a possible downward correction could be near. Specifically, the RSI is turning lower in the overbought territory, while trigger line is slipping well above the zero line. On [..]

Technical Analysis – US 500 index flies near 6-month peak; all-time high is near

Posted on April 19, 2019 at 9:12 am GMT

The US 500 index price skyrocketed to a fresh six-month high of 2918 on Thursday before it pared those gains later in the day. The price is holding above the red Tenkan-sen line as well as above the ‘golden cross’ within the 50- and 200-simple moving averages (SMAs). Technically, the RSI indicator is pointing marginally up near the overbought territory. However, the MACD oscillator is developing with stable momentum over the last sessions, despite the strong upside rally in the [..]

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