Indices / Page 57

Technical Analysis – US Dollar Index heads lower but remains in upward pattern

Posted on August 21, 2018 at 1:13 pm GMT

The US Dollar Index has declined considerably over the last three days following the bounce off the more than one-year high of 96.85, reached on August 15. The sharp sell-off, especially in the past sessions, has shifted the near-term bias from positive to negative. However, the price moved up after challenging the 20-day simple moving average (SMA) today, recovering on a significant part of its intraday losses. The momentum indicators are supportive of the bearish picture, with the RSI falling to approach the 50 level, while the [..]

Technical Analysis – EUR50 slips to 7-week lows; looks for a rebound

Posted on August 16, 2018 at 2:24 pm GMT

EUR50 stock index lost 1.8% on Wednesday to find support at the 7-week low of 3,340 which stood as a barrier to downside as well as to upside corrections a number of times in the past. This is also where the 78.6% Fibonacci retracement of the upleg from 3,260 to 3,593 is currently located. In the short-term, bearish pressures are likely to hold as the MACD increases strength to the downside in negative territory and below its red signal line. However, according to the RSI and the Stochastics, the recent fall could [..]

Technical Analysis – US 30 index eases after hitting 5-month high; remains in bullish outlook

Posted on August 8, 2018 at 1:35 pm GMT

US 30 index has been in a flying mode in the past four consecutive days, creating a new more than a five-month high of 25691.10. The upward pattern started at the late of March, however, today, the price seems to have a red day. In addition, the technical indicators are turning slightly to the downside as the RSI bounced off the overbought level and the stochastic oscillator is flattening in the positive area. As prices are still holding above the simple [..]

Technical Analysis – UK 100 index records strong bearish session; bullish outlook in medium term

Posted on August 1, 2018 at 1:00 pm GMT

UK 100 index is on track to record a strong red day as it touched again the 23.6% Fibonacci retracement level of the upleg from 6760 to 7905, around 7635.57. This week, the price is on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The RSI is currently increasing negative momentum towards its neutral threshold of 50, while the MACD is slowing down in positive territory, both hinting that the next move in [..]

Technical Analysis – US500 stock index increasingly bullish as it approaches all-time high

Posted on July 25, 2018 at 2:17 pm GMT

The US 500 stock index (cash) reached a near 6-month high of 2829.70 on Tuesday, with the index now having retraced about 80% of its January/February losses. The near-term bias remains strongly bullish according to the momentum indicators. The RSI is climbing and has yet to rise into overbought territory, while the %K line of the stochastic oscillator recorded a bullish crossover with the slower moving %D line. Both indicators suggest there is scope for additional gains in the short [..]

Technical Analysis – Japan 225 index finds support near 20-SMA; neutral bias still in place

Posted on July 24, 2018 at 1:40 pm GMT

Japan 225 index is paring some of the previous three days’ losses after the bounce off the 20-day simple moving average (SMA). Having a look at the medium-term picture the price has been developing within a consolidation area since April with upper boundary the 23000 handle and lower boundary the 21445 support. Momentum indicators in the daily chart are currently supporting the neutral to positive momentum and are likely to strengthen in the short-term. Specifically, the RSI is picking up speed above 50, while the MACD continues to [..]

Technical Analysis – German 30 index eases following bounce off 12,645; neutral picture in medium term

Posted on July 11, 2018 at 1:25 pm GMT

The Germany 30 stock index has been plunging since yesterday after the significant pullback on the 12,645 resistance level. The sharp sell-off has driven the price below the mid-level of the Bollinger Band (20-day simple moving average), indicating further downside pressure. Looking at the daily timeframe, the RSI indicator holds slightly below the 50 level and is sloping down. Moreover, the stochastic oscillator posted a downward crossover – the %K line moved below the %D in the overbought zone, suggesting that the price action would continue to head lower in the [..]

Technical analysis – US 30 index trades within a triangle, break on either side may determine bias

Posted on July 6, 2018 at 11:27 am GMT

The US 30 index has been trading within a symmetric triangle formation since its plunge in early-February, posting higher lows but also lower highs on the daily chart. The outlook currently appears neutral, with a decisive break on either side of the aforementioned triangle needed to determine the medium-term bias. Looking at short-term momentum oscillators, they suggest the next move may be to the downside. The RSI was recently rejected from near its neutral 50 level and has turned down [..]

Technical Analysis – US Dollar Index erases gains after posting almost 1-year high

Posted on July 3, 2018 at 1:04 pm GMT

The US Dollar Index is looking more neutral as prices are still developing within the 93.80 support level and the 95.20 resistance barrier. It is worth mentioning that the price jumped to an almost fresh one-year high of 95.22 on June 28 after the bounce on the 93.80 support and the 20-day simple moving average (SMA) but later reversed sharply to the downside. The neutral bias in the near term is also supported by the RSI, which has been hovering near the 50-neutral level [..]

Technical Analysis – US 500 index retreats after red day; develops in ascending triangle in long term

Posted on June 26, 2018 at 12:59 pm GMT

The US 500 index recorded a strong bearish day on Monday, losing more than 1% from its performance but remained above the 50-day simple moving average (SMA). However, the index is trading within an ascending triangle started on February 6, but there is no change in the longer timeframe from the latest movement. Momentum indicators in the daily chart though are currently supporting that the negative momentum is likely to strengthen in the short-term. Specifically, the RSI is flattening below 50 and the MACD continues the [..]

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