Technical Analysis – US 100 index still in bullish mode, but correction may be close
Posted on April 9, 2019 at 8:36 am GMTThe US 100 index continues to print higher highs and higher lows in the daily chart, running to fresh six-month highs ahead of the all-time high around 7700. However, the technical indicators seem to be overstretched, suggesting a possible downward correction could be near. Specifically, the stochastic oscillator is hovering in the overbought zone, while the RSI has found resistance near the 70 level and is pointing down. Also, the MACD oscillator still stands above its trigger line with weaker momentum than before. It is worth [..]