Technical Analysis – Will the US 100 index come under profit-taking pressure?
Posted on June 1, 2023 at 2:19 pm GMTThe US 100 stock index (cash) opened June’s trading session on a neutral note, though the formation of a bearish doji at the top of the uptrend keeps feeding speculation that the latest remarkable rally has probably peaked. The RSI and the stochastic oscillator are witnessing overbought conditions. Yet, with the former standing above 70 and the latter preserving a horizontal trajectory around 80, upside pressures could last a bit longer, especially if the 14,215 nearby support area stands firm. In the event the price heads lower, [..]