INDICES

Technical Analysis – Japan 225 index stalls ahead of 14-month peak of 24,162

Posted on January 16, 2020 at 11:40 am GMT

Japan 225 stock index (cash) has run out of fuel in its second attempt to overtake the 24,162 level. The recent stall in the up move can also be seen in the flattening of the Bollinger bands and the RSI, which is in the bullish territory. The short-term oscillators reflect mixed signals of momentum while the simple moving averages (SMAs) lean towards an improving picture. The MACD is rising above its red trigger line in the positive zone, while the [..]

Technical Analysis – US 500 index prints bearish doji after new record high of 3,295

Posted on January 15, 2020 at 1:49 pm GMT

The US 500 stock index (cash) seems to be completing a bearish doji star formation if it ends the day in the red. The price recorded a fresh all-time high of 3,295 on Tuesday but the overbought conditions have already been detected as the RSI has been flattening near the 70 level over the last month. The slowdown in the MACD further increases the case for a downside correction or at least for some stabilization. Traders would like to see [..]

Technical Analysis – Dollar Index futures bulls may face big challenge near the flat 200-day SMA

Posted on January 10, 2020 at 11:04 am GMT

The US dollar index futures rose above the short-term 20-day simple moving average (SMA) and is approaching the 40-SMA, creating the fourth green day in a row. The price is still developing within a downward sloping channel since October 2019. The fast Stochastics and the RSI, signal that the bearish action is running out of fuel and hence a rebound of the price off the line is likely as the indicators are moving up. Furthermore, the MACD oscillator surpassed the trigger line, completing a [..]

Technical Analysis – US 100 rallies to fresh record highs again

Posted on January 9, 2020 at 12:05 pm GMT

The US 100 index has been in a flying mode since yesterday, recording again a fresh all-time high around 8974.27 after it hit the 8660 support, which overlaps with the short-term 20-day simple moving average (SMA). According to the RSI, the market could maintain positive momentum in the short-term as the indicator is positively sloped above its 70 level, though the fast Stochastics suggest that the market is located in overbought territory and therefore some weakness is possible; the blue [..]

Technical Analysis – GER 30 index reactivates long-term uptrend; eyes record high

Posted on January 9, 2020 at 10:59 am GMT

The German 30 stock index opened positive this week after hitting support at 12,946, which is where the price bottomed in December and peaked in October. The bulls are currently pushing efforts to extend the uptrend off 10,276 towards the record high of 13,600 registered on January 2018 and while the upward slope in the RSI endorses the positive move, the MACD has yet to comfortably rise above its red signal line, suggesting that some caution remains in the market. A [..]

Technical Analysis – US 30 index holds bullish bias but strong resistance awaits near all-time high

Posted on January 7, 2020 at 1:42 pm GMT

The US 30 index surpassed the red Tenkan-sen line and is currently trading slightly higher following the rebound on the latest low of 28,340, however, in the very short-term the technical indicators seem to be a bit flat The MACD is hovering near the trigger line above the zero line, while the RSI is slowly moving higher in the daily chart. Jumping above the latest record high of 28,887.25, the index could hit the round number of 29,000 and then the 30,000 [..]

Technical Analysis – CHI 50 stock index targets 2019 peak but bulls may lose momentum

Posted on December 31, 2019 at 10:02 am GMT

ChIna’s 50 stock index (CHI50) closed the year slightly below the 2019 top of 14,456 on Tuesday. Technically, the positive momentum in the MACD, which jumped above its red signal line, suggests that there is still some room for improvement in the short-term. The RSI is bullish as well, though the indicator is not far below its 70 overbought mark which previously acted as resistance, hinting that any additional upside move may come softer in the coming sessions. Therefore, in [..]

Technical Analysis – US 500 index prints bearish shooting star candle at fresh record high

Posted on December 30, 2019 at 12:01 pm GMT

The US 500 stock index seems to have formed a bearish shooting star candle on Friday in the same day it unlocked a fresh record high of 3,251 and it remains to be seen whether the bears will take the lead in the coming sessions. Overbought conditions have already been detected as the RSI has been flattening above 70 for more than a week now and the Stochastics are turning south after posting a bearish cross above 80. The slowdown in the MACD further [..]

Technical Analysis – EU Stocks 50 Index hits 4½-year high but momentum is waning

Posted on December 19, 2019 at 3:39 pm GMT

EU Stocks 50 Cash Index (EU50) hit a fresh 4½-year high of 3777.61 earlier this week, extending the recovery from last December’s 2-year trough of 2907.25. However, the positive momentum has since started to ease and technical indicators support the retreat in price action. The stochastics have fallen off overbought levels and the RSI is also sloping downwards. However, both remain in bullish territory, so a resumption of the uptrend is likely as long as the downside correction is brief. [..]

Technical Analysis – US 30 index retracts from all-time-peak as momentum fades

Posted on December 17, 2019 at 2:37 pm GMT

US 30 stock index’s appreciation appears to have paused after it withdrew from the recently logged all-time-high of 28,336. Although positive momentum seems to have weakened, the bigger positive picture continues to be assisted by the upward slopes in the simple moving averages (SMAs) and the bullish crossover of the 100-period SMA by the 50-period one. The short-term oscillators reflect a stall in the market yet lean towards a positive outlook. The MACD deep in the positive region, has slipped [..]

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