INDICES

Technical Analysis – GER 30 index looks neutral in the short term; bearish medium-term outlook still at play

Posted on November 15, 2018 at 11:26 am GMT

The Germany 30 index looks to have stabilized after recovering somewhat from its lowest since December 2016 of 11,047.80 hit in late October. The RSI is in bearish territory below 50, though it’s been largely moving sideways in recent days, pointing to a mostly neutral short-term picture for the benchmark. Index gains may meet initial resistance around 11,556.63, the 23.6% Fibonacci retracement level of the downleg from 13,205.80 to 11,047.80. Not far above lies early November’s four-week high of 11,690.80, [..]

Technical Analysis – UK100 stock index could see further weakness

Posted on November 14, 2018 at 9:36 am GMT

UK100 stock index (FTSE 100) has rebounded somewhat after falling to an 8-month low of 6,850 on October 26 but momentum indicators now suggest that the market sentiment might get worse before getting better as the RSI is reversing back to the downside after failing to break decisively above its 50-neutral threshold. The MACD also looks to be changing direction, moving down to meet its red signal line in negative zone. Should bearish dynamics dominate, the market might revisit the 6,850 bottom before meeting [..]

Technical Analysis – Japan 225 index retreats from 2½-week high; bearish signal by stochastics in very short term

Posted on November 9, 2018 at 1:17 pm GMT

The Japan 225 index shifted gears, losing around 450 points relative to Thursday’s two-and-a-half-week high of 22,579. The RSI halted its previous advance and reversed lower into bearish territory below 50. This suggests a tilt in short-term momentum towards a bearish direction. The stochastics are also giving a negative signal in the very short-term, as the %K and %D lines recorded a bearish cross. Steeper losses may meet support around the 22,000 mark that may hold psychological importance; the area [..]

Technical Analysis – US 30 index bounces sharply, re-approaches record highs

Posted on November 9, 2018 at 11:40 am GMT

The US 30 index rebounded sharply in recent sessions, after finding support near a medium-term uptrend line drawn from the lows of February 6. The index has now crossed back above both the 50- and 200-day simple moving averages (SMA), which implies the short-term outlook is now back to positive. Taking a look at short-term oscillators, the RSI looks to be headed lower for a test of its neutral-50 line, signaling that positive momentum is losing some steam. The MACD, [..]

Technical Analysis – US 500 index eases slightly after sharp flying mode

Posted on November 8, 2018 at 2:07 pm GMT

The US 500 index recorded considerable gains at the end of October and early in November, following the rebound on the 2600 support. The index has now crossed back above its 200-day simple moving average (SMA), which keeps the broader outlook cautiously positive. Looking at short-term oscillators, the RSI is pointing downwards albeit above its neutral 50 level, detecting possible downside momentum. However, the MACD is moving higher in the negative territory, suggesting more gains. The stochastic oscillator is also pointing to positive [..]

Technical Analysis – GER 30 index bullish in short-term at 11-day high; remains bearish in medium term

Posted on November 2, 2018 at 11:35 am GMT

The Germany 30 index advanced by roughly 600 points after hitting its lowest since December 2016 at 11,047.80 in late October. Moreover, the benchmark is looking set to record its seventh straight day of gains on Friday, having touched an 11-day high of 11,660.30 earlier in the day. Indicative of the bullish bias in the short-term is the upward-sloping RSI; the indicator sharply reversed course after entering oversold territory below 30. Stronger gains may meet resistance around 11,872.02, the 38.2% [..]

Technical Analysis – Japan 225 index regains some ground after rebound on 20780

Posted on October 31, 2018 at 2:02 pm GMT

The Japan 225 index has been outperforming since yesterday following the bounce off the 20780 support level. The aggressive bullish scenario is confirmed by the technical indicators; the RSI jumped higher from the oversold zone, sloping upwards, while the MACD is moving slightly higher, approaching the trigger line but stands below the zero line. Should the index manage to strengthen the positive momentum, the next immediate resistance could come near the 22174 barrier, but the price needs first to post a closing day above [..]

Technical Analysis – Germany 30 index looking bearish in the short- and medium-term

Posted on September 17, 2018 at 2:36 pm GMT

The Germany 30 index lost considerable ground after touching 12,597.80 in late August, this being its highest since August 10. Specifically, it is currently trading roughly 500 points below that peak. The Tenkan- and Kijun-sen lines are negatively aligned, projecting a bearish short-term picture for the index. Immediate support to losses may come around the current level of the Tenkan-sen at 12,045.85. The zone around this includes the 12,000 handle that may be of psychological importance. Further below, the region [..]

Technical Analysis – EU 50 index turns bearish in short-term; lacks direction in long-term

Posted on September 11, 2018 at 12:45 pm GMT

The EU 50 stock index has declined considerably after touching the 3460 resistance level, recording two straight bearish weeks. On Friday, the price posted a five-month low of 3274.70, while it is currently not far above that nadir. The momentum indicators are supportive of the bearish picture, with the RSI standing below the threshold of 50 and approaching the 30 oversold mark. Moreover, the MACD oscillator is falling sharply below the trigger and zero lines. Immediate support is coming from the 3274.70 bottom, while an [..]

Technical Analysis – US 500 index near-term momentum turns south; still bullish in the medium-term

Posted on September 5, 2018 at 1:49 pm GMT

The US 500 index has declined after touching an all-time high of 2,916.50 on August 29. Still, the benchmark continues to trade relatively close to its record peak. The RSI has reversed lower after entering overbought territory last week and continues to head down, supporting the view that near-term momentum has turned negative. The stochastics are also projecting a bearish picture in the very short-term: the %K and %D lines are negatively aligned and are moving lower. A move back [..]

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