INDICES

Technical Analysis – German 30 index eases following bounce off 12,645; neutral picture in medium term

Posted on July 11, 2018 at 1:25 pm GMT

The Germany 30 stock index has been plunging since yesterday after the significant pullback on the 12,645 resistance level. The sharp sell-off has driven the price below the mid-level of the Bollinger Band (20-day simple moving average), indicating further downside pressure. Looking at the daily timeframe, the RSI indicator holds slightly below the 50 level and is sloping down. Moreover, the stochastic oscillator posted a downward crossover – the %K line moved below the %D in the overbought zone, suggesting that the price action would continue to head lower in the [..]

Technical Analysis – US Dollar Index erases gains after posting almost 1-year high

Posted on July 3, 2018 at 1:04 pm GMT

The US Dollar Index is looking more neutral as prices are still developing within the 93.80 support level and the 95.20 resistance barrier. It is worth mentioning that the price jumped to an almost fresh one-year high of 95.22 on June 28 after the bounce on the 93.80 support and the 20-day simple moving average (SMA) but later reversed sharply to the downside. The neutral bias in the near term is also supported by the RSI, which has been hovering near the 50-neutral level [..]

Technical Analysis – US 500 index retreats after red day; develops in ascending triangle in long term

Posted on June 26, 2018 at 12:59 pm GMT

The US 500 index recorded a strong bearish day on Monday, losing more than 1% from its performance but remained above the 50-day simple moving average (SMA). However, the index is trading within an ascending triangle started on February 6, but there is no change in the longer timeframe from the latest movement. Momentum indicators in the daily chart though are currently supporting that the negative momentum is likely to strengthen in the short-term. Specifically, the RSI is flattening below 50 and the MACD continues the [..]

Technical Analysis – German 30 stock index loses momentum after creating double top

Posted on June 18, 2018 at 1:09 pm GMT

The Germany 30 stock index has plunged today after the significant bounce on the double top level near the 13200 barrier. The sharp sell-off has driven the price towards the 50- and 200-simple moving average (SMA) in the medium-term, which are expected to post a bullish crossover in the next few sessions if the price recoups the losses. Looking at the daily timeframe, the RSI indicator holds near the 50 level and is sloping down; some caution may be warranted given that the indicator is trying to enter the negative territory. Moreover, [..]

Italian stocks rebound sharply as political crisis eases but persisting risks keep FTSE MIB well off highs – Index News

Posted on June 14, 2018 at 12:59 pm GMT

Italy’s leading share index, the FTSE MIB, rallied sharply at the start of the week after comments by the country’s new economy minister helped restore some confidence about Italy’s future in the Eurozone. Italian stocks have taken a hammering since early May when the two anti-establishment parties, the 5-Star Movement and the League, started making progress in forming a coalition government after months of uncertainty following the inconclusive elections in March. The FTSE MIB plunged by nearly 14% from [..]

Technical Analysis – UK 100 index turns neutral in short term after bearish correction

Posted on June 12, 2018 at 1:33 pm GMT

UK 100 index is looking more neutral as prices have struggled below the 7770 key resistance level and also touched a couple of times the 23.6% Fibonacci retracement level of 7633 of the upleg from 6760 to 7905, in the previous days. Hence, the upside momentum appears to be running out of steam as the short-term technical indicators are moving lower. In the daily timeframe, the RSI indicator is pointing down near the threshold of 50, while the MACD oscillator is falling [..]

Technical Analysis – Hong Kong 50 Index slides back inside symmetrical triangle; bearish bias in place

Posted on June 8, 2018 at 11:34 am GMT

The Hong Kong 50 Index is having a rough ride today, extending the negative momentum below the 20-day simple moving average (SMA). While the index jumped above the symmetrical triangle in the previous two days it failed to extend gains towards the 32,000 resistance level and reversed back down. Technical indicators point to further downside movements in the short-term. The RSI indicator continues to fluctuate near the 50 level and is currently moving downwards, meaning that the risk is tilted to the downside. The fast stochastics are also negatively [..]

Technical Analysis – Japan 225 index looking bullish in the short-term, crosses above MAs

Posted on June 4, 2018 at 2:57 pm GMT

The Japan 225 index has risen by around 600 points after hitting a one-and-a-half-month low of 21,914 last Tuesday. The RSI is on the rise, having entered bullish territory above 50; this is painting a positive short-term picture. The bias in the very short-term is also bullish as indicated by the stochastics oscillator: the %K line has moved above the slow %D one, with both lines continuing to head higher. Additional gains may meet resistance around the 61.8% Fibonacci retracement [..]

Technical Analysis – IBEX 35 index adds strong gains in downward sloping channel

Posted on June 4, 2018 at 12:44 pm GMT

IBEX 35 index has been outperforming since yesterday’s trading session, approaching the 50-day simple moving average (SMA), around 9850 at the time of writing. When looking at the bigger picture, the pair has been developing within a negatively aligned channel over the last 13 months. The technical indicators are suggesting a strong upside movement in the price action. The RSI indicator is rising significantly slightly below the 50 level, while the MACD oscillator is moving higher in the negative territory. If price action jumps [..]

Technical Analysis – EUR50 stock index to maintain bearish structure in short-term

Posted on May 30, 2018 at 2:52 pm GMT

The blue-chip Euro 50 stock index has been on the back foot over the past six days after spending a few days testing the 3 ½-month high of 3,593.70, reached first on May 17. At the moment there is not much evidence supporting that the downtrend could be nearing an end since the price is below its moving averages (SMA) which show no sign of reversing to the upside; the 20-day SMA is currently pointing to the downside, suggesting the [..]

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