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Technical Analysis – US 30 index jumps above 200-day SMA; enters key resistance zone

Posted on June 5, 2020 at 1:16 pm GMT

The US 30 stock index (cash) ticked above the 200-day simple moving average (SMA) and is ready to test the 26,580-27,000 resistance zone. The battle could be challenging as the RSI and the stochastics point to an overbought market, suggesting that the rally could soon lose steam. If the bulls are unable to remove the 27,000 ceiling, letting the price slip back below the 200-day SMA, the red Tenkan-sen line near the 25,770 barrier could take over. However, what could [..]

Technical Analysis – GER 30 index detects overbought signals near 3-month high

Posted on June 4, 2020 at 1:26 pm GMT

The German 30 stock index (cash) finished Wednesday’s session at three-month highs and comfortably above the 200-day simple moving average (SMA) following the close above the 12,000-round level. While the aforementioned notable move foresees the extension of the two-month old uptrend, the market needs first to overcome the 12,600 mark which is currently blocking the way up. Note that the momentum indicators are already located in overbought territory – the RSI above 70 and the Stochastics above 80, hence a downside [..]

Technical Analysis – US Dollar index plunges towards an almost 3-month low

Posted on June 3, 2020 at 1:16 pm GMT

The US dollar index plummeted to an almost three-month low of 97.24 earlier today, continuing the sell-off of the last six days. The price penetrated the 200-day simple moving average (SMA) and the 61.8% Fibonacci retracement level of the up leg from 94.50 to 103.80 at 98.06, opening the path for a bearish picture in the short term. The RSI turned lower near the oversold territory. At the moment, it has flattened near the 30 line in support of a [..]

Technical Analysis – CHI 50 index extends gains above 200-day SMA

Posted on June 2, 2020 at 3:10 pm GMT

China A50 stock index (Cash) lunged over the flat 200-day simple moving average (SMA) and the 13,692 high in the past sessions, reviving an improving picture. The recent upturn in the 50-day SMA suggests further advancements, as do the rising Ichimoku lines, which reflect growing positive momentum. Additionally, the MACD has pushed above its red trigger line in the positive zone, while the RSI is rising in the bullish territory. Moreover, the climbing stochastic %K line has entered the overbought [..]

Technical Analysis – US 500 index maintains weak momentum; broader picture is bullish

Posted on June 1, 2020 at 12:46 pm GMT

The US 500 (cash) index is looking more neutral as prices have climbed towards the 12-week high of 3,069, remaining above the 23.6% Fibonacci retracement level of the up leg from 2,765 to 3,069 at 2,998 and the 50-period simple moving average (SMA). The technical indicators seem to be in contrast as the MACD is moving below the trigger line in the positive zone, while the RSI, standing above 50 level, is pointing upwards. In case of an upside move, [..]

Technical Analysis – US 30 index retains a positive outlook above 22,788

Posted on May 29, 2020 at 12:03 pm GMT

US 30 Index’s (Cash) bullish tone is intact with the price currently resting above the 25,219 level, that being the 61.8% Fibonacci retracement of the down leg from the all-time high of 29,582.61 to the 40½-month low of 18,170. The price is sponsoring gains trading above the Ichimoku cloud and the supportive trend line. Additionally, the bullish Ichimoku lines and the rising simple moving averages (SMAs) further endorse an improving picture. Glancing at the short-term oscillators, they display the recent [..]

Technical Analysis – US dollar index holds in consolidation after March peak

Posted on May 28, 2020 at 12:10 pm GMT

The US dollar index looks to be mostly neutral after a descent from the March 20 peak of the three-year high of 103.80, returning the price back below the 101.00 barrier and below the 20- and 40-day simple moving averages (SMAs). The decline in the MACD oscillator and the flattening mode in the RSI in the negative region are suggesting more losses in the near term, pushing the market towards the 98.40 support level, which overlaps with the 200-day SMA. Clearing this significant zone, the [..]

Have stocks ‘gotten over’ the virus? – Special Report

Posted on May 27, 2020 at 3:53 pm GMT

There’s been a lot of talk for a powerful V-shaped recovery, but that has only happened in the stock market, which is ignoring the rising economic and geopolitical risks and is instead plowing higher, powered by a tsunami of stimulus. Alas, at current levels equities imply a ‘painless’ recession, which is probably much too rosy. Overall, so much optimism has been priced back in, that it would almost take a miracle for reality to match the stellar expectations. There is [..]

Technical Analysis – GER 30 index bullish at fresh highs; nears key obstacle

Posted on May 26, 2020 at 10:16 am GMT

The German 30 stock index (cash) found support at the 50% Fibonacci of the virus-led sell-off and crawled to a fresh high of 11,537 on Tuesday. With the price deviating above its shorter-term moving averages (SMAs) and the ichimoku cloud at a time when the RSI keeps sloping upwards, additional gains could follow in the short-term. Still, in breathing distance is the 61.8% Fibonacci of 11,585, which could halt the buying pressure, sending the pair back to the 50% Fibonacci [..]

Technical Analysis – US 500 finds roof at 11-week high; holds above SMAs

Posted on May 25, 2020 at 9:35 am GMT

The US 500 index (Cash) has finally reversed to the upside last Friday after flirting with the 50-period simple moving average (SMA) around 2,906. The upward pattern started at the end of March, but the market needs to beat the immediate resistance at 2,980 for more significant increases. Above that the market could meet the 3,140 – 3,205 resistance, taken from the high on March 3 and the inside swing low from January 31. The momentum indicators in the four-hour chart though [..]

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