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Technical Analysis – US 30 index breaches 176.4% Fibo on upbeat NFP payroll

Posted on November 5, 2021 at 1:25 pm GMT

The US 30 stock index (Cash) has pushed past the 36,200 level, that being the 176.4% Fibonacci extension of the down leg of 35,893 until 35,495, which had capped recent advances, keeping the all-time high at 36,189. The index has now regained buoyancy after a minor pullback and is now heading for the resistance of 36,300. The advancing simple moving averages (SMAs) are endorsing the uptrend in the index. Moreover, the bullish Ichimoku lines are confirming that positive forces are [..]

Technical Analysis – US 500 index has more bullish fuel in store; next stop 4,720

Posted on November 4, 2021 at 4:04 pm GMT

The US 500 stock index (cash) has been breaking record after record over the past two weeks, and although overbought signals are flashing red at the moment, the unstoppable rally still has some room for improvement. The RSI is approaching April’s peak in the overbought territory and the Stochastics are printing a lower high, both warning that the bears could be around the corner. However, with the price trading some way below the key resistance line from September 2020 at 4,720, the bulls [..]

Technical Analysis – US 30 index breaches August 16 all-time high

Posted on October 22, 2021 at 12:58 pm GMT

The US 30 stock index (Cash) has barely conquered the previous all-time-high reached on August 16 at 35,632, though the picture remains upbeat. The climbing 50- and 100-period simple moving averages (SMAs), and the recent bullish crossover of the 200-period SMA by the 100-period one is endorsing the more than one-week uptrend that started gaining momentum off the 34,111 level. The Ichimoku lines are demonstrating that positive momentum is starting to increase, while the short-term oscillators are exhibiting a slight [..]

Technical Analysis – US 100 index re-tests major broken trendline

Posted on October 21, 2021 at 3:59 pm GMT

The US 100 stock index (cash) is at a critical situation as the bulls are currently looking to correct the break below the long-term ascending trendline, which caused the aggressive downfall to a three-month low of 14,382 at the end of September. In other words, the index is at a make-or-break point around 15,500. A decisive step above that bar may drive the price up to the 15,708 record high, where any violation would probably clear the way towards the 16,000 [..]

Technical Analysis – US 500 index returns to gains; more bullish outlook is expected

Posted on October 19, 2021 at 12:56 pm GMT

The US 500 (Cash) index has strongly rebounded off the 4,270 barrier and the momentum indicators now suggest that the market sentiment is back to bullish as the MACD is entering the positive region, holding above its trigger line. Also, the RSI is pointing northwards above the 50 level and the price has surpassed the upper boundary of the Ichimoku cloud, indicating more positive movements. Should bullish dynamics dominate, the market might revisit the all-time high of 4,549.39 before getting into uncharted levels. The next targets [..]

Technical Analysis – US 30 index steers above 35,000; sentiment upbeat

Posted on October 15, 2021 at 11:44 am GMT

The US 30 stock index’s (Cash) two day aggressive rally from 34,111 is heading for the 35,113-35,200 resistance border, after piloting above all the simple moving averages (SMAs). The upturns in the 50- and 100-period SMAs are reflecting the sudden rise in intensity of positive impetus, following a period of consolidation in the index. Convincing directional drive has ceased and this is being conveyed in the short-term oscillators. The MACD is strengthening in the positive region, while the RSI has [..]

Technical Analysis – Japan 225 index recoups some of strong losses; oversold market

Posted on October 5, 2021 at 1:08 pm GMT

The Japan 225 index extended Monday’s losses towards a fresh six-week low of 27,450 earlier today, but now is currently trading not far above this level. The index recorded three straight negative days, drifting beneath the 200-day simple moving average (SMA), while the MACD is stretching its bearish momentum below its zero line. However, the RSI is mirroring an oversold market as it is turning higher near the 30 level. Further declines may meet support around 27,450, and not far below, support could occur around the 27,070 [..]

Technical Analysis – US 500 index struggles to clear longer-term MAs

Posted on September 27, 2021 at 1:59 pm GMT

The US 500 stock index’s (Cash) recent progress has hit a snag around the converged 100- and 200-period simple moving averages (SMAs), pulling back after spiking to the September 17 high of 4,482. The lagging SMAs are now endorsing a more neutral price tone in the pair. The short-term oscillators are reflecting the recent price drop and are signalling that upside momentum lacks potency to revive the price incline. The MACD in the positive region is slowing towards its red [..]

Technical Analysis – US 100 index tries to gain momentum below record high

Posted on September 24, 2021 at 11:41 am GMT

The US 100 stock index (Cash) has jumped back near the 40-day simple moving averages (SMAs), which is acting as strong resistance for hitting the record high of 15,708.06 again. The short-term oscillators are favouring a descending move in the very short-term. The RSI’s fall is subsiding in the bearish region, but it is touching the 50 level, while the MACD oscillator is losing momentum below its trigger line. If buyers re-emerge and push above the SMAs, the bulls may [..]

Technical Analysis – US 30 index advances after bullish double bottom pattern

Posted on September 23, 2021 at 3:33 pm GMT

The US 30 index (cash) charted a bullish double bottom pattern near July’s base of 33,815 on the four-hour chart, with the price skyrocketing to 34,747 on Thursday following the close above the 33,324 neckline. Having breached the 50-period simple moving average (SMA) too, the rally could get more legs towards the 100-period SMA at 34,844 as the RSI is still some distance below its 70 overbought level, and the Stochastics have yet to peak above 80. Meanwhile, the MACD managed to step into the [..]

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