Indices / Page 20

Technical Analysis – UK 100 index retreats below 50-day SMA; upside risks remain

Posted on February 3, 2021 at 2:14 pm GMT

The UK 100 index (Cash) retraced significantly from its 10½-month high of 6,955, plunging underneath the 50-day simple moving average (SMA), only to rebound near the previous trough of 6,312. The positive picture in the index, currently curbed by the 50-day SMA at 6,578, is holding onto hopes of returning higher. Also strengthening this view are the SMAs, which are maintaining a bullish demeanour. The short-term oscillators reflect the recent bounce and continue to favour the upside. The RSI, slightly below [..]

Technical Analysis – GER 30 index returns to the green zone after 6-week lows

Posted on February 2, 2021 at 11:16 am GMT

The German 30 index (cash) drifted northwards after refusing to close below 13,380 on Monday, despite sinking to a six-week low of 13,260 earlier in the day. The rebound has stretched beyond the simple moving averages (SMAs) in the four-hour chart, but currently the bulls seem to struggle to overcome the 61.8% Fibonacci level of the 14,133 – 13,260 downfall at 13,800, where the surface of the Ichimoku cloud is also positioned. With the Stochastics looking to change direction in [..]

Technical Analysis – US 500 index’s bounce on cloud may reinforce uptrend

Posted on February 1, 2021 at 2:12 pm GMT

The US 500 index (Cash) appears to be finding some footing off the upper surface of the Ichimoku cloud after its withdrawal from the all-time high of 3,867. Although the dipping red Tenkan-sen line is feeding negative price action, the climbing simple moving averages (SMAs) are safeguarding the ascent. For the retraction to begin to undermine positive belief, the pair would have to recede towards the 100-day SMA at 3,576. The short-term oscillators are reflecting conflicting signals in directional momentum. [..]

Technical Analysis – US 30 index’s pullback contested by 38.2% Fibonacci

Posted on January 28, 2021 at 3:23 pm GMT

The US 30 stock index (Cash) has found footing on the 30,047 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 26,065 until 31,284, after receding from its latest all-time high of 31,284. Yesterday’s losses saw the index pierce below the 50-day simple moving average (SMA), last encountered in early November of last year, to only recoup most of them today with a bounce off the 23.6% Fibo. The rising SMAs are protecting the positive [..]

Technical Analysis – US 500 index charts its biggest daily loss in seven months

Posted on January 28, 2021 at 8:23 am GMT

The US 500 stock index (cash) erased January’s gains in one day and slumped to a three-week low of 3,711 after the 3,855 bar proved to be a tough resistance to overcome. That was the biggest daily loss since June 12. The touch with the 50-day simple moving average (SMA) brought the calm after the storm near the 23.6% Fibonacci retracement of the 3,233 – 3,869 upleg. However, given the negative slope in the RSI, which has dipped below its 50 neutral [..]

Technical Analysis – US 500 index maintains uptrend despite faint pause

Posted on January 25, 2021 at 12:25 pm GMT

The US 500 index (Cash) appears to have frozen a bit after forming a new all-time high of 3,867. Nevertheless, the commanding bullish bearing of the simple moving averages (SMA) is assisting the uptrend, while the stalling Ichimoku lines are indicating some dwindling in positive momentum. The short-term oscillators are demonstrating mixed signals in directional momentum. The MACD, in the positive region, is a tad above its floating red trigger line, while the RSI is pointing upwards, merely beneath the [..]

Technical Analysis – US dollar index retreats again near 90.00; bearish in long-term

Posted on January 22, 2021 at 11:19 am GMT

The US dollar index is recording a strong sell-off since March 2020, creating a 33-month low around 89.14. Zooming at the last seven-weeks, the price is moving sideways, finding strong resistance at the 90.93 barrier and the 50-day simple moving average (SMA). This week, the index is on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The stochastic oscillator is approaching the oversold territory again, while the MACD is heading [..]

Technical Analysis – US 100 index celebrates Biden’s presidency at a fresh record high

Posted on January 21, 2021 at 12:06 pm GMT

The US 100 stock index (cash) popped to a fresh record high of 13,397 in the first day of Joe Biden’s presidency after finding a strong footing around the red Tenkan-sen line. With the RSI approaching its former peaks around the 70 overbought mark and the price hovering around the 161.8% Fibonacci extension of its latest pullback at 13,368, a downside reversal towards the swing high of 13,126 and the red Tenkan-sen line is likely in the near-term. The 20-day [..]

Technical Analysis – US 500 index fades from recent all-time high of 3,831

Posted on January 18, 2021 at 12:49 pm GMT

The US 500 index (Cash) is finding a foothold in the Ichimoku cloud, on the 100-period simple moving average (SMA) at 3,756, after the index receded from its latest all-time high of 3,831 under the 50-period SMA. All climbing SMAs are endorsing the positive picture, while the Ichimoku lines, with the dipping red Tenkan-sen line, are promoting the pullback in price. The short-term oscillators are proposing a tad increase in positive momentum. The MACD is flattening below its red signal [..]

Technical Analysis – US 30 stock index looks for a make-or-break point

Posted on January 15, 2021 at 11:11 am GMT

The US 30 index (cash) is nosing around for fresh bullish traction near the four-month old restrictive line at 30,800 after topping twice around its new record high of 32,252. A clear close below that floor, where the surface of the Ichimoku cloud in the four-hour chart is also placed, would complete a bearish double top formation (more evident in the one-hour chart), likely triggering another negative extension towards the 100-period simple moving average (SMA) and the bottom of the [..]

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