INDICES

Technical Analysis – US 500 index challenges significant obstacle near 2812; holds above 200-day SMA

Posted on March 4, 2019 at 12:59 pm GMT

The US 500 stock index jumped above the 2812 strong barrier, which had been holding since December 3, pointing for more bullish pressures in the near term. Prices hit an almost five-month high of 2819 earlier today, however, the technical indicators seem to be overbought. The MACD is trying to recover somewhat below trigger line, while the RSI is flattening near 70 level. In case of further gains the next resistance would likely be faced around the 2863 barrier, taken [..]

Technical Analysis – US 30 index completes in new 3-month high; momentum indicators look overbought

Posted on February 25, 2019 at 1:04 pm GMT

The US 30 index has been in a flying mode, recording a new three-month high of 26,179 after the rebound on the 16-month low of 21,596 on December 26, successfully surpassing the 50- and 200-simple moving averages (SMAs) in the daily timeframe. This implies that the short-term picture remains positive, albeit cautiously so, with a break above the all-time high of 26,951 needed to confirm that the bulls are in full control. However, the technical indicators are holding in overbought [..]

Technical Analysis – EU50 stock index bulls look exhausted below descending line

Posted on February 21, 2019 at 3:29 pm GMT

The blue chip EU50 stock index has impressively improved since the start of the year, adding 10% to its value to reach four month highs.The market is currently testing the previous peak of 3,263 and the downward trendline drawn from the top of July 2018 at 3,535 but the RSI is close to its 70 overbought mark suggesting that the rally is overdone. A failure to break the downward pattern could see prices falling into the 3,214-3,192 area, encapsulated by the high on [..]

Technical Analysis – Japan 225 stock index stands tall at 9-week highs

Posted on February 21, 2019 at 1:52 pm GMT

Japan’s 225 stock index has staged a 5% rise over the past two weeks to jump above the Ichimoku cloud and reach a nine-week high of 21,554 today. The MACD keeps stretching higher and above its red signal line, spreading hopes that there are more gains in store. The RSI is also in bullish territory (above 50) but seems to be losing steam, a sign that caution may soon return to the market. If the rally continues, the 50% Fibonacci of 21,847 [..]

Technical Analysis – Dollar index reverses up in sideways channel; neutral in medium term

Posted on February 21, 2019 at 10:14 am GMT

The dollar index found strong resistance around the 97.20 obstacle, driving the price lower. Currently, the price has been developing in a sideways channel over the past five months with upper boundary the 97.50 resistance and lower boundary the 94.60 support. Chances for a reversal in the short-term are increasing as the price failed to drop beneath the 50-day simple moving average (SMA). The short-term bias looks positive as the RSI indicator keeps gaining ground above its 50 level, while the stochastic oscillator is [..]

Technical Analysis – UK 100 index retreats from 4-month high; bullish in near term

Posted on February 20, 2019 at 2:24 pm GMT

UK 100 stock index (FTSE 100) has declined considerably after touching the four-month high of 7265 on February 15. During Thursday’s trading, the price has gained some ground, while it is currently not far below the 50.0% Fibonacci retracement level of the downleg from 7900 to 6533, near 7220. The flatly aligned Tenkan- and Kijun-sen lines are indicative of a possible bearish correction, signaling a potentially oversold market. The MACD and the stochastic oscillators are heading south as well. Should bearish dynamics dominate, the market might revisit [..]

Technical Analysis – Spain 35 index holds in inverse head and shoulders formation in near term

Posted on February 18, 2019 at 1:50 pm GMT

The Spain 35 index has been developing within an inverse head and shoulders pattern over the last three months with head the more than two-year low of 8277 and neckline the 9230 resistance level. Currently, the price is testing the upper band of the long-term downward sloping channel and seems to be ready for a jump above both formations, starting a new bullish rally in the daily timeframe. Zooming to the technical indicators, the MACD oscillator is in progress to [..]

Technical Analysis – US 500 index jumps towards 2-month high above 200-SMA

Posted on February 14, 2019 at 10:02 am GMT

The US 500 stock index has had a bullish run above the strong obstacle of the 200-day simple moving average (SMA) and the 61.8% Fibonacci retracement level of the downleg from 2940 to 2332, indicating an upward tendency. Prices hit a two-month high of 2762 earlier today and the technical indicators are all pointing to further positive momentum in the short term. The RSI indicator is heading upwards approaching the overbought territory, while the MACD oscillator posted a bullish cross with the [..]

Technical Analysis – US 500 stock index finds resistance at 200-SMA, hovers around 61.8% Fibonacci

Posted on February 11, 2019 at 1:11 pm GMT

US 30 stock index found strong resistance obstacle at the 200-simple moving average (SMA) in the daily timeframe, hovering around the 61.8% Fibonacci retracement level of the downleg from 2,940 to 2,332, near 2,708. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies near the trigger and zero lines. A fresh wave of advances may stall initially near the 200-SMA, but a successful jump above this key level would increase chances for a touch of the [..]

Technical Analysis – US 100 index may challenge 200-SMA roof; bullish in near term

Posted on February 6, 2019 at 12:15 pm GMT

The US 100 index (NASDAQ 100) has been in a positive tendency after the jump above the 61.8% Fibonacci retracement level of the downleg from the all-time high of 7700 to the 14-month low of 5845, around 6995. Currently, the price remains below the 200-day simple moving average (SMA), which is acting as a strong resistance level for the bulls. Momentum indicators in the daily chart, though, are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is holding above [..]

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