Indices / Page 36

Technical Analysis – CHI 50 index seems held in a neutral structure as buyers resurface ahead of low

Posted on March 13, 2020 at 3:11 pm GMT

China A50 index (Cash) looks undecided since the beginning of March after rebounding off the 12,528 level, following the aggressive drop from the 14,678 peak. Further supporting this view is the marginally lower recent drop to 12,521, where buyers resurfaced and pushed back up towards the lower band of the Ichimoku cloud. Additionally, the converging in the simple moving averages (SMAs) and Ichimoku lines plus the conflicting signals in momentum indicators, signal an unclear direction. The MACD has just decreased [..]

Technical Analysis – GER 30 index bounces from 4-year low; bearish-to-neutral in short-term

Posted on March 13, 2020 at 2:21 pm GMT

The German 30 stock index is heading into the weekend with massive losses for the second time in a row despite pushing efforts to recover from a four-year low of 8,817 reached on Friday. Somewhat encouraging is the fact that the RSI and the Stochastics on the daily chart are refusing to post fresh lows. Yet, for the sell-off to take a breather, the indicators need to show a convincing rebound above oversold levels. Nevertheless, on the upside, there are several obstacles [..]

Technical Analysis – US 30 stock index rebounds from 3-year low; looks oversold after recent sell-off

Posted on March 13, 2020 at 10:55 am GMT

The US 30 (Cash) index has been in a free fall over the last couple of days, recording a fresh three-year low of 20,398.83. The price is shifting the strong bullish tendency of the previous years to a sharp bearish structure in the short-term. However, according to the technical indicators the market is looking oversold. Technically, the MACD oscillator is stretching its negative momentum below the zero and trigger line, but the RSI is turning higher in the bearish territory, suggesting [..]

Technical Analysis – JP 225 index’s decent extends to more than 3-year low

Posted on March 12, 2020 at 1:28 pm GMT

Japan’s 225 stock index (cash) sustains a negative bearing stretching to a thirty-nine-month low of 17,510. The one-month collapse is fortified by the downward sloping 50- and 100-day simple moving averages (SMAs) and the recent bearish crossover between them. Furthermore, the falling Ichimoku lines boost the negative sentiment with the red Tenkan-sen line distancing itself below the blue Kijun-sen line. Additionally, the MACD is deep in the negative region and below its red trigger line, while the RSI is declining [..]

Technical Analysis – US 100 index continues sharp sell-off within bearish channel

Posted on March 12, 2020 at 11:30 am GMT

The US 100 stock index (cash) could not successfully breach the 200-day simple moving average (SMA) as the 8,300 resistance level stood tall, with the index pulling back below that line and towards a five month low of 7,602. Also, the price dropped below 7,789, which is the 50% Fibonacci retracement of the 5,838-9,750 long-term upleg, increasing speculation that the sell-off may not bottom out in the near-term as the downward-sloping RSI and Stochastics are currently signaling. Probably the next pause could take place around the [..]

Technical Analysis – Dollar index bounces off 17-month low, closing the negative gap

Posted on March 10, 2020 at 1:52 pm GMT

US dollar index futures jumped above the 17-month trough of 94.60 today and spiked near the 96.00 number, filling the negative gap posted on Monday. The RSI penetrated the downtrend line to the upside in the oversold zone, suggesting a potential upside correction of the aggressive selling interest, while the MACD is still falling below its trigger and zero lines. If the market corrects higher, the bullish action may pause initially near the 23.6% Fibonacci retracement level of the downward wave from 99.80 to 94.60 [..]

Technical Analysis – US 500 stock index’s selling interest continues to 6-month trough

Posted on March 9, 2020 at 11:25 am GMT

The US 500 index (Cash) continues the sharp sell-off, extending its negative momentum towards a six-month low of 2,819. The outlook turned negative in the short-term with the MACD oscillator holding well below the trigger line in the bearish area, while the RSI is approaching the oversold zone with strong momentum. Also, the red Tenkan-sen line is moving south beneath the blue Kijun-sen line, suggesting a bearish structure. If traders continue to sell, they could find immediate support at the 2,755 region, [..]

Technical Analysis – US 100 index finds support at 200-SMA; could trade neutral in short-term

Posted on March 3, 2020 at 11:03 am GMT

US 100 stock index found strong footing near the 200-day simple moving average (SMA) once again, refusing to slip below the 8,000 number. In the short-term, the market could follow a neutral path, holding above its recent lows, as the RSI is moving towards its 50 neutral mark and the MACD is stabilizing within the bearish area. The 50- and 20-day SMAs currently at 9,100 and 9,267 respectively could halt any upside extension, while the 9,500 barrier could deter any [..]

Technical Analysis – US 30 stock index dives below ascending channel

Posted on February 27, 2020 at 10:32 am GMT

The US 30 stock index faced strong selling this week that forced the price to abandon the 10-month old channel and drop to a four-month low of 26,483, where the 38.2% Fibonacci of the 21,596-29,582 upleg happens to be. A rebound or some stabilization near recent lows cannot be ruled out as the RSI and the Stochastics flag oversold conditions. Yet, with the price having breached the channel significantly to the downside and the 20-day simple moving average (SMA) set to cross [..]

Technical Analysis – US 500 index plunges to 4-month low; biggest fall since December 2018

Posted on February 27, 2020 at 7:32 am GMT

The US 500 index (Cash) has been in free fall mode since February 20 as it hit resistance at the record high of 3,392.21. The price is creating the biggest sell-off run since December 2018 and is approaching the nine-month ascending trend line, posting a fresh four-month low near the 200-day simple moving average (SMA) at 3,060. From a technical viewpoint, the moving averages are pointing down, while the MACD oscillator sank to the negative territory with strong momentum. Moreover, the RSI slipped to the oversold area and [..]

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