INDICES

Technical Analysis – GER 30 index possibly oversold in near-term; looking bearish in medium-term

Posted on March 5, 2018 at 11:55 am GMT

The Germany 30 index has managed to cross above the 12,000 handle – a level that may be of psychological importance – after previously falling as low as 11,729.50 during Monday’s trading and coming close to the one-year low of 11,691.60 that was recorded in early February. The bias in the short-term is looking bearish as indicated by the negatively aligned Tenkan- and Kijun-sen lines. The Chikou Span however might be pointing to an oversold market, rendering a rebound in [..]

Technical Analysis – GER30 index forms a floor around 12000; bearish in short and medium-term

Posted on March 1, 2018 at 4:09 pm GMT

GER30, the blue-chip German index, touched a one-year low of 11691.60 on February 6 and since then has been forming a floor around the 12000 key area. The market has fiercely broken below its lower and higher-timeframe moving average lines and the Ichimoku cloud, signaling that a downtrend is underway. In the short-term, negative momentum could still persist according to the RSI. The RSI is currently moving downwards in bearish territory after its failed efforts to crawl above its neutral threshold [..]

Technical Analysis – US Dollar Index is ready for bullish retracement; creates 7-week high

Posted on March 1, 2018 at 1:53 pm GMT

The US dollar index created a double bottom on February 16 near 88.20, posting a new more than 3-year low. The double bottom reversal is a bullish pattern indicating further gains on the price action as the index jumped above the significant area of 90.45. Currently, the price is recording a 7-week high near 90.75. In the daily chart, short-term momentum indicators are also pointing to a continuation of the bullish bias. The Relative Strength Index is well above the 50 level, suggesting [..]

Technical Analysis – US 30 index turns more neutral in medium-term as it enters Ichimoku cloud

Posted on February 28, 2018 at 11:10 am GMT

The US 30 index finished Tuesday’s trading 1.3% lower after previously reaching a near four-week high of 25,819,90. Despite yesterday’s notable decline, the Tenkan- and Kijun-sen lines remain positively aligned, continuing to project a bullish picture in the short-term. However, both have flatlined, this being a sign that positive momentum could be losing steam. Should the index advance, the area around yesterday’s high of 25,819.90 could act as a barrier to the upside, while the range around the Ichimoku cloud [..]

Technical Analysis – US 500 index loses some ground; bearish crossover of 20 and 40 SMAs

Posted on February 21, 2018 at 2:30 pm GMT

The US 500 index is moving slightly lower after the sharp buying interest in the previous week pared some of the steep losses from earlier in the month. The price is developing below the bearish crossover within the 20 and 40 simple moving averages in the daily timeframe, suggesting downward pressure. From the technical point of view, the MACD oscillator is holding below the zero line but jumped above the trigger line in the previous sessions. The stochastic oscillator is moving lower [..]

Technical Analysis – Japan 225 stock index finds support at 200-DMA after slumping to 4-month low

Posted on February 14, 2018 at 11:25 am GMT

The Japan 225 stock index has suffered a sharp sell-off over the past three weeks, tumbling by around 15% from its 26-year high of 24191 on January 23 to a 4-month low of 20547 on February 9. The index appears to have found support around the 200-day moving average, with prices so far managing to close above it. Momentum indicators are mixed with the RSI flat just above the 30 oversold level, suggesting that the next near-term trend could move [..]

Technical Analysis – UK 100 slumps to 13-month lows; technicals point to oversold picture

Posted on February 6, 2018 at 3:56 pm GMT

The UK 100 index came under severe pressure on Monday, sinking by almost 4.0% in one day towards a 13-month low of 6,917. On the way down, the market broke a critical support level at 7,195. Technical indicators hint that the recent downturn might remain in place for a while as the index is currently trading well below the 20-, 50- and 200-day simple moving average lines, as well as the Ichimoku cloud. However, in the short-term, we cannot exclude any upside movements yet as the RSI indicates that the market might be oversold; the [..]

Technical Analysis – US 30 index posts steep losses; near 3-month low

Posted on February 6, 2018 at 2:07 pm GMT

The US 30 index has plunged sharply lower since Friday losing more than 3000 points from the last all-time high on January 29. The price posted a new more than 3-month low of 23116.40 earlier today, however, it later reversed some of its losses during the European session. Prices broke below the 23.6% Fibonacci retracement level near 24000 of the up-leg with the low of 15250 and the high of 26700. The bullish picture in the medium-term weakened and a bearish correction is in progress. [..]

Technical Analysis – US 100 index hits 11-day low; medium-term picture still bullish

Posted on February 2, 2018 at 11:28 am GMT

The US 100 index is 2.5% down from the week’s high of 7,037.10 hit on Monday which also constituted the highest on record for the benchmark. During Friday’s trading it touched 6,849.60, this being an 11-day low, while it continues trading in proximity to this level. The RSI has been falling in recent days, hinting to a change in short-term dynamics from bullish to bearish. Turning to the stochastics, they’re giving a bearish signal in the very short-term as the [..]

Technical Analysis – Japan 225 index close to 1-month lows; bearish in short-term

Posted on January 31, 2018 at 4:11 pm GMT

Japan 225 index took a knock after reaching a multi-decade high of 24166, reversing most of its gains made since the beginning of the year. However, in the bigger picture, the index remains firmly in bullish territory. In the short-term, the risk is to the downside given that the RSI is negatively sloped below its neutral zone of 50 and MACD has slowed down below its signal line, while in lower timeframe charts both indicators are also located in bearish [..]

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