INDICES

Technical Analysis – US 500 index neutral in the short-term, cautiously bullish in the medium-term

Posted on May 25, 2018 at 12:31 pm GMT

The US 500 index is trading not far below May 14’s two-month high of 2,741.40. Throughout the last couple of weeks the index has been largely moving sideways. The RSI, which has also been moving sideways to a large extent recently, is painting a mostly neutral picture in the short-term. Immediate resistance to advances may be coming around May 14’s two-month high of 2,741.40. The upper Bollinger band lies not far above at 2,768.47, while a move off and to [..]

Technical Analysis – Germany 30 index maintains bullish bias in near-term; broader trend is neutral

Posted on May 17, 2018 at 2:19 pm GMT

The Germany 30 index is looking set to record an eight straight week of gains, which have taken it above the 50-week SMA, following the rebound from the 11710 support. The sharp buying interest drove the price towards a new 15-month high of 13074.50, while the momentum indicators are supportive of the bullish picture. Looking at the daily timeframe, the RSI indicator holds above the 70 level and is sloping up; some caution may be warranted given that the indicator is in overbought territory. Moreover, the stochastic oscillator posted an [..]

Pound’s slide propels FTSE 100 to near 4-month high – Index News

Posted on May 16, 2018 at 10:15 am GMT

The UK’s leading share index, the FTSE 100, has been enjoying an impressive rally since the end of March, climbing to levels last seen in January before the global equities and bond sell-off struck the markets. The gains over the past two months make the FTSE 100 the best performing share index among the major world indices, which might come as a surprise given the recent soft data out of the UK, as well as the still uncertain outlook with [..]

Technical Analysis – UK 100 eyes all-time high; medium-term outlook increasingly bullish

Posted on May 15, 2018 at 3:20 pm GMT

The UK 100 index has posted an impressive rally after hitting a one-and-a-half-year low of 6,760.10 on March 26; in fact the index has advanced in every single week ever since that trough and is currently on track for an eighth straight weekly gain. The short-term bias is bullish as indicated by the positively aligned Tenkan- and Kijun-sen lines. The rising RSI adds to this view, though notice that the indicator has entered oversold territory above 70; the implication being [..]

Technical Analysis – EU 50 index touches 14-week high but returns some gains

Posted on May 11, 2018 at 12:35 pm GMT

The EU 50 index has completed the seventh bullish week in a row following the bounce off the 3260 support barrier. However, in the short-term, the index has erased some of its gains over the last hours during Friday’s session after it reached a new 14-week high of 3580.70. Looking at momentum oscillators on the daily chart, they suggest further declines may be on the cards in the short-term. The RSI is below its 70 line, with negative momentum and is pointing downwards. The stochastic oscillator posted a bearish cross within the [..]

Technical Analysis – GER 30 index rises to 3-month high; positive but possibly overbought

Posted on May 7, 2018 at 10:18 am GMT

The Germany 30 index has climbed considerably since late March and after coming close to revisiting the 15-month low of 11,691.60 recorded in early February. Earlier on Monday, the index touched a three-month high of 12,889.50. The Tenkan-sen and Kijun-sen lines are positively aligned, supporting the case for a bullish bias in the short term. The Chikou Span, though, may be hinting to an overbought market, the implication being that a pull-back in the near term is not to be [..]

Technical Analysis – Japan 225 index builds base around 2-month high; rebounds on long-term uptrend line

Posted on April 27, 2018 at 11:41 am GMT

Japan 225 index has advanced considerably since roughly the end of March, hitting a two-month high of 22526 during Friday’s trading. Price action at the moment is taking place not far below this peak. In a longer-timeframe, the index has been developing in an uptrend since June 2016 and this week it surpassed the 20-week simple moving average. In the near term, a fresh upside push is possible with prices looking to post a third straight session of gains today. The RSI indicator appears [..]

Technical Analysis – UK 100 index is stuck below 50.0% Fibonacci level following bullish rally from 6760

Posted on April 13, 2018 at 11:43 am GMT

UK 100 index has reversed back up again after finding support at the 16-month low of 6760. The index is on track to record a third green week, however, looking at the 4-hour chart, the price is stuck below the 50.0% Fibonacci retracement level of the downleg from 7806 to 6760. The technical picture supports that the range bound is likely to continue in the short-term. Technically, the momentum indicators are holding in the positive territory with weak momentum. The RSI indicator is [..]

Technical Analysis – GER 30 index crosses above 50-day MA to record 4-week high, challenges Ichimoku cloud bottom

Posted on April 10, 2018 at 10:30 am GMT

The Germany 30 index has advanced considerably after hitting a two-month low of 11,703.80 on March 26 and coming close to the more than one-year trough of 11,691.60 recorded in early February. Earlier on Tuesday, the index posted a near four-week high of 12,428.30. In terms of the short-term picture, the Tenkan-sen line has just crossed above the Kijun-sen, this being a positive alignment that supports a bullish bias. The RSI lends credence to this view: the indicator continues to [..]

Technical Analysis – CHI50 stock index heads higher but bears still sneaking around

Posted on April 10, 2018 at 8:26 am GMT

The China A50 stock index (CHI50) did little to gain ground after it hit a 5 ½-month low of 12,269 at the end of March, with the index posting moderate moves since then to create a base around that trough. The market is currently trying to surpass its 200-day simple moving average and the technical indicators are somewhat supportive but positive signals are too weak to paint a bullish picture. The RSI is slowly moving to the upside and the MACD is increasing positive [..]

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