INDICES

Technical Analysis – UK 100 index creates upside rally in short term

Posted on January 30, 2019 at 2:07 pm GMT

UK 100 stock index (FTSE 100) is set to record another strong green day, surging above the 50-simple moving average (SMA) and the 23.6% Fibonacci retracement level of the downleg from 7900 to 6533 around 6858 in the daily chart. The RSI now suggests that the market sentiment might get better as the index is moving in the positive territory. If the price manages to continue bullish actions and surpasses the 7000 level, the 38.2% Fibonacci retracement level of the downleg from 7900 [..]

Technical Analysis – US 500 stock index rebounds on 50-day SMA, signaling new upside wave

Posted on January 23, 2019 at 12:52 pm GMT

The US 500 stock index found strong support level at the 50-day simple moving average (SMA), creating two consecutive red days, after the aggressive upside rally from the 19-month low of 2,332. The short-term technical indicators support this notion as the RSI is marginally pointing upwards in the positive area, while the MACD lies above trigger and zero lines. A fresh wave of advances may stall initially near the latest highs of 2,675 before increasing chances for a jump towards the 61.8% [..]

Technical Analysis – GER30 stock index en route to third weekly gain

Posted on January 17, 2019 at 2:51 pm GMT

The German 30 stock index (DAX 30) has been on the rise since the day it dropped to a two-year low of 10,276 and is now set to register its third weekly gain slightly above the 20-day simple moving average. The short-term bias looks currently neutral to bullish as the RSI moves along the 50 line and the MACD keeps strengthening above its red signal line and towards zero. On the upside, the bulls could push to break the 11,000 support-turned-resistance level which [..]

Technical Analysis – US 100 index continues the rebound on 14-month low with slower momentum

Posted on January 15, 2019 at 1:54 pm GMT

The US 100 stock index (NASDAQ 100) has reversed back to the upside, hitting the 50-day simple moving average (SMA). Currently, the price is hovering around the 38.2% Fibonacci retracement level of the downleg from 7700 to 5845, near 6555. 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 picking up speed above 50 and the MACD continues to distance itself above its red signal line. Should the price decisively close above the roof [..]

Technical Analysis – JP225 stock index stalls downtrend at 15-month lows

Posted on January 11, 2019 at 9:05 am GMT

Japan’s 225 stock index (Nikkei 225) gained some ground after dropping to a 15-month low of 19,239 in the first week of the year and is now looking for a cross above the 20-day simple moving average. In the short term the index could consolidate as the RSI is ready to touch its 50-neutral mark, while the MACD continues to improve towards the zero line. The red Tenkan-sen line is flattening after a small rebound, supporting this view as well. [..]

Technical Analysis – UK 100 index finds resistance near 50-day SMA

Posted on January 10, 2019 at 12:22 pm GMT

UK 100 stock index (FTSE 100) has rebounded somewhat after falling to a two-year low of 6533 on December 27, hitting the 50-day simple moving average (SMA). Momentum indicators now suggest that the market sentiment might get better as the RSI is moving in the positive territory. The MACD also looks to be changing direction, moving higher to meet its zero line in the negative zone. If the price manages to continue bullish actions and surpass 6900, the 38.2% Fibonacci retracement level [..]

Technical Analysis – US 30 stock index bullish correction in progress; medium term bias remains negative

Posted on January 7, 2019 at 12:58 pm GMT

The US 30 stock index managed to test the 38.2% Fibonacci retracement level (23,645) of the downward move from 26,960 to 21,596 today after a buoyant rally last Friday. Technical indicators are suggesting more gains in the short term, with the MACD jumping above its trigger line in negative terittory and the RSI approaching its 50 neutral level, though with weaker momentum. On the upside, traders would be eagerly looking for a break above today’s top of 23,637 to increase buying orders. If that’s the case, the rally could [..]

Technical Analysis – GER 30 stock index set for the fifth monthly loss

Posted on December 27, 2018 at 3:44 pm GMT

The GER 30 stock index (DAX 30) is heading for its fifth monthly loss, dropping to a fresh 2-year low of 10,301 on Thursday. According to the RSI and the Stochastics which have entered oversold terittory, the market could see some upside in the short-term. Yet as long as the price maintains the lower highs and lower lows pattern below its moving averages and the Ichimoku cloud, the downtrend is not likely to be reversed anytime soon. The selling could continue until [..]

Technical Analysis – US 500 index moves above 14-month trough; outlook switches to negative

Posted on December 18, 2018 at 2:07 pm GMT

The US 500 index had a bearish start on Monday, with the price breaking a crucial support at 2600 to drop towards a 14-month low of 2529.80 and taking its year-to-date losses to 4.7%. The price has also increased distance below its negatively sloped moving average lines and the ascending trend line, which had been holding since February 6, indicating that the recent downtrend might hold for longer. However, the price is currently regaining some ground and hovers above the multi-month trough. [..]

Technical Analysis – Dollar index struggles in narrow range; upside tendency in long term

Posted on December 17, 2018 at 10:29 am GMT

The dollar index has been consolidating after flirting with the one-and-a-half-year peaks at 97.50 in the previous week. In the short-term, sideways movement will likely continue as the technical indicators are flattening. The MACD stands below the trigger line with weak momentum, while the Relative Strength Index (RSI) hovers near the 50 level. On the upside, the index could retest the previous highs of 97.50. A decisive close above this region could bring further buying interest into the market, pushing the price [..]

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