INDICES

Technical Analysis – CHI 50 index faces strong resistance at 50- and 100-day SMAs

Posted on February 21, 2020 at 11:14 am GMT

CHI 50 index is capped by the 50- and 100-day simple moving averages (SMAs) and the Ichimoku cloud after the upside recovery from the 12,528 support level. The short-term upside tendency is confirmed by the technical indicators. The MACD is extending its bullish move near the zero line, as it holds above its trigger line. Furthermore, the RSI is heading north in the positive area, while the red Tenkan-sen line is moving higher following the price action. Should the index [..]

Technical Analysis – Dollar index reactivates 2-year old uptrend in overbought zone

Posted on February 20, 2020 at 9:27 am GMT

The US dollar index futures cleared the tough ceiling around 99.30 and spiked to a 33-month high of 99.74 on Thursday, re-activating the two-year old upward pattern off 88.13. If the bulls manage to close decisively above the former resistance level of 99.60 from 2015, the next key obstacle is expected to pop up around 100.60. Since the RSI and the MACD have yet to show signs of weakness, the odds for such a case are currently looking high. If [..]

Technical Analysis – US 500 index looks to be in the process of a minor bearish pullback

Posted on February 18, 2020 at 12:06 pm GMT

The US 500 index (Cash) is retreating after pivoting from the all-time high of 3,392.21 reached on Monday. The long-term picture remains strongly bullish, however, in the very short-term, the technical indicators are suggesting a possible downside correction. The MACD is heading south in the positive territory, while the RSI is sloping down above the 50 level. In the wake of negative pressures, the market could meet support at the 50-day simple moving average (SMA) currently at 3,270 before it heads lower to the 23.6% Fibonacci retracement level [..]

Technical Analysis – GER 30 index hits fresh record high; could stabilize in short-term

Posted on February 13, 2020 at 3:54 pm GMT

The German 30 stock knocked January’s all time high of 13,639 on Wednesday and printed a fresh peak of 13,791 on Thursday. With the price pulling below the upper Bollinger band, some caution could emerge in the short-term. Still, any weakness could prove temporary if the area between the middle Bolinger band, which is also the 20-day simple moving average (SMA), and the 50-day SMA currently near 13,300 rejects any move lower, shifting the spotlight back to the 13,600 level [..]

Technical Analysis – CHI 50 index fights with 200-SMA after rebound on 8-month low

Posted on February 11, 2020 at 11:12 am GMT

China’s 50 stock index (CHI 50) has rebounded somewhat after falling to the eight-month low of 12,520 on February. Currently, the price struggles beneath the 200-day simple moving average (SMA), which overlaps with the area of the 23.6% Fibonacci retracement level of the up leg from 10,197-14,678 of 13,621 and the 13,570 barrier. The momentum indicators now suggest that the market sentiment might get better as the RSI is approaching the positive territory as it flirts with the 50 level. [..]

Technical Analysis – US 100 Index’s boost dwindles as it looks for a new summit

Posted on February 10, 2020 at 3:12 pm GMT

US 100 Index’s (Cash) recent appreciation, which bounced off the blue Kijun-sen line around 9,056, produced a fresh all-time high of 9,459. That said, the index appears to have taken a breather, something also reflected in the technical indicators, which display some wanings in positive momentum. The MACD, although deep in the positive region and above its red trigger line, has lost steam, while the RSI is hovering below the 70 level. The Stochastics also warn of possible weakness in [..]

Technical Analysis – Dollar Index futures hold at 4-month high; lack direction in long-term

Posted on February 10, 2020 at 8:54 am GMT

The US dollar index reached a fresh four-month high of 98.56 as the price extended its bull run well above the Ichimoku cloud and the moving averages lines. Prices broke above the 98.47 barrier and the technical indicators are suggesting a weaker bullish move. The MACD is holding above the trigger and zero lines, while the RSI flattens near the 70 level. It is worth mentioning that the 20-day simple moving average (SMA) crossed above all the short- and long-term [..]

Technical Analysis – GER 30 Index pullback looks to test positive picture

Posted on February 7, 2020 at 11:00 am GMT

Germany 30 Index (Cash) is pushing under the 13,519 level, following a deflection off the 13,604 resistance from January 24. The candles reflect sellers’ efforts for a down move, something also suggested within the short-term oscillators, where negative momentum appears to be picking up. The MACD, deep in the positive region, has slipped below its red trigger line, while the RSI declines lower in bullish territory following an exit from the overbought zone. The Stochastic lines have reached the 20 [..]

Technical Analysis – US 30 index extends bullish pressure; all-time high at 29,528

Posted on February 6, 2020 at 1:49 pm GMT

The US 30 index is looking strongly bullish after surging above its daily moving averages (MA) on Monday. Prices hit a record high of 29,528 earlier today and the technical indicators are all pointing to further positive momentum in the near term. The stochastics are heading upwards, but the D% line has yet to cross above 80, suggesting plenty of scope for additional upside moves. The RSI has crossed into bullish territory but has yet to approach the 70 overbought [..]

Technical Analysis – JP 225 index looks for some extra gains in short-term

Posted on February 5, 2020 at 2:23 pm GMT

Japan’s 225 stock index staged an impressive rally earlier on Wednesday to cross above the Ichimoku cloud and close on top of the 200-period simple moving average (SMA) on the four-hour chart. Technically, there is still some room for improvement as the Stochastics are reversing north again within the overbought area at a time when the RSI keeps rising to reach its 70 overbought mark. The 23,700 level seems like a hurdle for the bulls at the moment but if it soon falls [..]

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