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Technical Analysis – US 500 index looks optimistic despite minor retreat

Posted on January 11, 2021 at 1:58 pm GMT

The US 500 index (Cash) has retracted ever so slightly after stalling around the fresh all-time high of 3,831. Although the Ichimoku lines are revealing the ebbing in positive price action, the bullish demeanour of the simple moving averages (SMAs) is defending the positive structure. The withdrawal in price will have to mature into a deeper retracement to have any significant effect on the upwards drive. The short-term oscillators are transmitting mixed frequencies in directional sentiment. The MACD, in the [..]

Technical Analysis – US 30 index begins new year with new record highs

Posted on January 8, 2021 at 10:29 am GMT

The US 30 stock index (Cash) is edging north, standing around the fresh record high of 31,252.85. The MACD, in the positive region, is holding near its trigger line, while the RSI is extending its move towards the overbought territory. The bullish 50- and 100-day simple moving averages (SMAs) could boost the price, sending the index to new uncharted peaks. In a bullish scenario, immediate resistance may develop from the 32,000 and 33,000 psychological numbers before meeting the 261.8% Fibonacci [..]

Technical Analysis – US 500 index gives up gains after fresh all-time highs

Posted on January 4, 2021 at 3:40 pm GMT

The US 500 stock index (cash) added another record high of 3,780 to its collection in the first trading day of the year before giving up all the gains to test the 20-period simple moving average (SMA) in the four-hour chart. Unless the 20-period SMA catches the fall around 3,740, the decline could get new legs within the bearish Bollinger band area, shifting the spotlight towards the 3,723 – 3,710 support zone. Beneath the latter, the 100-period SMA at 3,700 may attempt [..]

Technical Analysis – JP 225 index advances to a 30-year high; bias cautiously bullish

Posted on December 29, 2020 at 10:39 am GMT

Japan’s 225 stock index (cash) staged a stunning rally before the year end, accelerating above the tough 26,960 ceiling of the one-month old consolidation phase and towards a 30-year high of 27,690. The 28,000 – 28,500 psychological area will be closely watched in the short run as the RSI is flagging a bullish bias following the breach of a descending trendline. Yet, the indicator has already crossed above its 70 overbought mark, while the MACD could not surpass its red [..]

Technical Analysis – US 500 index unlocks fresh all-time highs before the end of the year

Posted on December 28, 2020 at 12:54 pm GMT

The US 500 stock index (cash) is exploring new all-time highs marginally above last week’s top of 3,730 following the approval of the US stimulus package, which averted a government shutdown and secured funding through September. The bullish move is well supported by the 20-day simple moving average (SMA) once again, though the muted reaction in the MACD, which continues to fluctuate below its red signal line, the flattening red Tenkan-sen, and the sideways trajectory in the RSI suggest that the positive [..]

Technical Analysis – US 500 index eases a bit below all-time high

Posted on December 23, 2020 at 1:49 pm GMT

The US 500 index has declined slightly from the all-time high of 3,730.53 over the last couple of days, taking the momentum indicators lower. The RSI dropped from the 70 level but is now pointing upwards again, while the stochastic is heading south after the downward move from the overbought territory. The 50-, 100- and 200-day simple moving averages (SMAs) are confirming the long-term upside tendency as the price remains well above them. If the price falls further, it could touch the 3,589 barrier before heading south [..]

Technical Analysis – US 30 index creeps to new all-time highs; positive momentum sluggish

Posted on December 18, 2020 at 1:28 pm GMT

The US 30 stock index (Cash) has logged a fresh all-time high of 30,345 as it continues to hold above the simple moving averages (SMAs), crawling gradually higher. The 200-period SMA is backing the positive structure, while the casual hike in the 50- and 100-period SMAs is maintaining the slow upwards pace in the index. Further backing this view is the relaxed incline in the Ichimoku lines. The short-term oscillators are reflecting weak momentum but lean towards the upside. The [..]

Technical Analysis – GER 30 index eyes February’s record high; bias bullish

Posted on December 18, 2020 at 11:26 am GMT

The German 30 index (cash) is in a breathing distance from February’s record high of 13,826 after finally breaching the tough resistance bar of 13,460. The technical picture continues to look constructive for additional gains as the red Tenkan-sen line is sloping upwards again after refusing to cross below the blue Kijun-sen. In other indicators, the MACD is strengthening above its red signal line, while the rising RSI and the fast-Stochastics are also reflecting a bullish bias, though some caution [..]

Technical Analysis – Dollar index registers its worst year since 2017; eyes on 90.00 level

Posted on December 16, 2020 at 2:50 pm GMT

The US dollar index (futures) had one of its worst years since 2017 despite the impressive rally to a 3 ½-year high of 103.79 in March. The index is set to post a yearly loss of around 7.0% and unless the 90.00 barrier puts breaks to the sell-off, the market could depreciate towards the 2018 troughs registered within the 88.88 – 88.40 zone. This is also where the 61.8% Fibonacci of the 2013 – 2017 upleg is placed, hence it [..]

Technical Analysis – JP 225 index holds in ascending channel in short term

Posted on December 16, 2020 at 1:53 pm GMT

The JP 225 index attempted to break the upper border of the ascending channel at 26,950 several times in the past, but its efforts proved unsuccessful. Nevertheless, the positive market structure consisted of higher lows, while the short-term oscillators are also not yet in favor of the bears; the RSI is moving sideways above its 50 neutral mark and the MACD has stabilized its momentum in the positive area and is currently moving around its red signal line. However, the [..]

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