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Technical Analysis – US 30 index tries to switch the outlook to slightly positive

Posted on November 11, 2022 at 8:25 am GMT

The US 30 index posted an aggressive bullish rally following the bounce off the 200-day simple moving average (SMA), shifting the short-term bias to positive. The RSI is moving higher approaching the overbought region, while the MACD is extending the bullish structure above its trigger and zero lines. An extension to the upside could take the market until the 34,280 resistance, registered on August 16. Further up, resistance could run towards the 35,500 barrier. On the other hand, if the pair [..]

Technical Analysis – US 100 index seems to have found a floor

Posted on November 8, 2022 at 10:17 am GMT

The US 100 index has finally reversed somewhat to the upside since last Friday after printing lower highs and lower lows in the preceding year to reach a more than two-year low on October 13. However, the downward pattern that started at the end of December 2021 may not change unless the market manages to crawl substantially above the descending trend line. The momentum indicators are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed below 50 and the [..]

Technical Analysis – US 30 index looks overbought after exciting rally

Posted on November 2, 2022 at 8:51 am GMT

The US 30 index (cash) has completed four strong bullish weeks, with the price advancing above the 200-day simple moving average (SMA) to top at a two-month low of 32,965 last week. The market has trimmed a small portion of its gains this week after finding strong resistance around the ascending trendline drawn from the record high of 36,950. From a technical perspective, the weakness could persist as overbought signals in the RSI and the stochastics may encourage profit-taking activities. Still, the [..]

Technical Analysis – US 500 index seeks next bullish breakout

Posted on November 1, 2022 at 11:00 am GMT

The US 500 stock index (cash) has been building a pattern of higher highs and higher lows since its 2021 downtrend stalled at an almost two-year low of 3,489 in mid-October. With the price trading above its simple moving averages (SMAs) on the four-hour chart and the momentum indicators fluctuating within the bullish territory, buying interest could persist in the short term. October’s high of 3,913, which coincides with the 50% Fibonacci retracement of the 4,325-3,489 downleg, is currently under examination. The bulls will [..]

Technical Analysis – GER 40 index slumps to 2022 floor

Posted on September 23, 2022 at 10:45 am GMT

The German 40 index (cash) unlocked an almost two-year low at 12,347, set on a pace to re-activate its 2022 downtrend below the 12,385 base, which kept the market in a horizontal move over the past six months. At this phase, a rebound cannot be excluded as the falling RSI is within breathing distance from its previous lows and its 30 oversold level. The stochastics have already sunk below their 20 oversold number, but they keep trending southwards, warning that another bearish extension [..]

Technical Analysis – JP 225 index holds above 200-SMA after two-month low

Posted on September 21, 2022 at 3:23 pm GMT

Japan’s 225 stock index (cash) slid to a new two-month low of 27,196 on Wednesday but encouragingly it erased some losses to climb back above the 200-day simple moving average (SMA) and stay out of the broken bearish channel. From a technical perspective, the latest bearish round is not over yet as the RSI is sloping downwards below its 50 neutral mark and the MACD is decelerating below its red signal and zero lines. An extension beneath the 27,370 – 27,073 area, [..]

Technical Analysis – US 100 index finds support after big plunge

Posted on September 14, 2022 at 3:30 pm GMT

The US 100 stock index (cash) lost more than 5.0% in one day on Tuesday after getting rejected near the descending trendline drawn from December 2021. The 38.2% Fibonacci retracement of the 2020-2021 uptrend at 12,896 capped earlier flash spikes as well. The price is currently hovering near the familiar 12,000 support zone as the momentum indicators are warning that the bears are still in town. Despite pointing slightly up today, the RSI keeps fluctuating below its 50 neutral mark. On the [..]

Technical Analysis – US 500 index bounces off 23.6% Fibo; shows positive signs

Posted on September 12, 2022 at 8:28 am GMT

The US 500 cash index rebounded off the 3,885 support level and the medium-term uptrend line. Also, the market surpassed the bullish crossover within the 50- and 100-day simple moving averages (SMAs) with the technical oscillator confirming the recent pullback. The RSI jumped above the neutral threshold of 50, while the MACD is extending its positive bias above its trigger line. Currently, the index is flirting with the 4,087 resistance level, which is the 38.2% Fibonacci retracement level of the [..]

Technical Analysis – JP 225 index sees golden cross but strong resistance awaits near 7-month high

Posted on August 30, 2022 at 1:34 pm GMT

The JP 225 cash index has gained little so far this week, and it managed to hold above the 27,730 support. That said, the 20- and the 200-day simple moving averages (SMAs) posted a golden gross, suggesting more gains in the market. The technical indicators are feeding some prospects for a possible positive short-term trading. The RSI is rising well above 50, while the stochastic remains above its oversold territory, even though is flattening. A successful attempt above the seven-month high of [..]

Technical Analysis – US 30 index at risk of bearish breakdown

Posted on August 18, 2022 at 8:41 am GMT

The US 30 index (cash) has been clearly trending up since departing from July’s low of 30,128, recently topping at a four-month high of 34,279 before pulling lower. In the four-hour chart, the bears are trying to dominate below the 20-period simple moving average (SMA) at 33,922, which has been strongly protective over the past week. From a technical perspective, they may succeed as the RSI is printing new lower lows within the bullish area, the MACD is decelerating below its red [..]

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