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Technical Analysis – US 100 stock index meets familiar support zone

Posted on March 5, 2024 at 4:16 pm GMT

US 100 stock index turns red after all-time high Downside risks balanced above 20-day EMA The US 100 stock index (cash) has been in a clear uptrend since October 2023, gaining 28% to pause at a record high of 18,339 on Monday. The index opened at the back foot on Tuesday, but the bearish move is not a concern yet. Instead, the negative action can be considered part of the upward pattern as long as the price holds above the 17,945 level. [..]

Technical Analysis – JP 225 index in sight of historic peak

Posted on February 15, 2024 at 10:41 am GMT

JP 225 index approaches its 1989 record high Bulls might be exhausted as overbought signals detected Japan’s 225 stock index (cash) marked another green day on Thursday despite GDP figures pointing to a recessionary economy, extending its weekly bull run closer to the 1989 record high of 38,915. While the upward pattern has shown no cracks so far, the market might be at risk of a downside correction. Specifically, the price could not strengthen its positive momentum above the resistance [..]

Technical Analysis – US 500 index jumps above 5,000. Now what?

Posted on February 12, 2024 at 8:39 am GMT

The US 500 index surpasses 5,000; goes from record to record Caution needed as price reaches a former peak area The US 500 stock index (cash) has been on a steep uptrend since October’s low of 4,099, gaining more than 20% to enter uncharted territory again. The remarkable appreciation lifted the price to a record high of 5,030 last Friday, helping the market to close marginally above the long-term resistance line, which connects the highs from December 2022 and [..]

Technical Analysis – GER 40 index hits all-time high

Posted on February 6, 2024 at 4:25 pm GMT

The German 40 index unlocks a record high The short-term bias is positive; next resistance at 17,145 The German 40 index (cash) returned to the uncharted territory following the completion of a bullish flag formation, printing a record high of 17,040 on Tuesday. The RSI and the MACD have gradually turned up in the positive region, backing the current bullish momentum in the price. Yet, downside risks could stay in play as the price has yet to close decisively [..]

Technical Analysis – US 100 index leans to the downside

Posted on January 31, 2024 at 11:59 am GMT

US 100 stock index drops below short-term SMAs Faces downside risks below 17,286 as technical signals worsen The US 100 stock index (cash) changed direction to the downside after hitting a record high of 17,666 near the resistance line drawn from mid-November last week. Despite Monday’s recovery attempt, the price paused slightly below the 2024 top, increasing fears that January’s rally has peaked. A continuation lower is likely in the four-hour chart as the 50-period exponential moving average (EMA) [..]

Technical Analysis – GER 40 index aims for bullish continuation

Posted on January 23, 2024 at 9:12 am GMT

German 40 index looks for a bullish channel breakout Will the index resume its long-term uptrend? The German 40 index (cash) has been trending southwards within a channel since marking the record high of 17,000 in mid-December. The downward-sloping formation could be part of a bullish continuation flag pattern followed by the almost vertical October-December uptrend. The index is currently seeking confirmation above the 20-day simple moving average (SMA) and the 16,700 level. If its efforts prove successful, it could crawl up to [..]

Technical Analysis – Natural gas futures lose steam after exponential surge

Posted on January 15, 2024 at 1:04 pm GMT

Natural gas futures start the year with a bang Momentum indicators warrant some caution Natural gas futures (February delivery) have been rising exponentially so far in January after refusing to drop below the 2023 floor of 2.00-2.20 in mid-December. The price stretched to a one-and-a-half-month high of 3.37 last week, but it soon eased back below the support-turned-resistance trendline from June 2023 at 3.17. Given the negative slope in the RSI, which seems to have confirmed a bearish double [..]

Technical Analysis – Will the US 500 index sail to record highs?

Posted on January 15, 2024 at 9:54 am GMT

The US 500 index flirts with its 2022 record high Lacks momentum, but its trend remains positive above 4,660 The US 500 stock index (cash) recovered its latest pullback, rising swiftly back above its 20-day exponential moving average (EMA) and closer to its record high of 4,817 registered in January 2022. There is some skepticism in the market as the stochastic oscillator is looking for a negative reversal slightly above its 80 overbought level. That said, the RSI is [..]

Technical Analysis – GER 40 index near new highs at the end of 2023

Posted on December 20, 2023 at 12:13 pm GMT

GER 40 looks strongly bullish However, RSI suggests overbought market As the 2023 is coming to an end, the GER 40 index added more than 17% after the bounce off the 14,600 support level and the 100-week simple moving average (SMA). The price reached a new high near 17,003.90 in the previous week and lost some of its upside momentum, falling lower. According to technical oscillators, the RSI is flattening marginally below 70, suggesting a weakening positive bias; however, the [..]

Technical Analysis – GER 40 index shows signs of exhaustion

Posted on November 20, 2023 at 4:25 pm GMT

German 40 index takes a breather after dynamic rally Selling pressures expected to intensify below 15,800 The German 40 index (cash) marked a three-week bullish streak, running from seven-month lows to a two-month high of 15,954. The index has recouped more than half of the August-October downtrend, but the falling RSI, which seems to have topped in the overbought region in the four-chart, is warning that the latest downturn might be at an early stage. Note that the price [..]

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