Technical Analysis / Page 212

Technical Analysis – Twitter stock rangebound despite completing golden cross

Posted on September 15, 2022 at 3:08 pm GMT

Twitter’s stock has been moving sideways in the past few sessions after its latest pullback failed to cross below the 37.80 region. However, the technical picture seems to be favouring the bulls as the 50-day simple moving average (SMA) has crossed above the 200-day SMA, creating a golden cross. The short-term oscillators also reflect that bullish forces are in control. Specifically, the MACD histogram is currently above both zero and its red signal line, while the RSI is flatlining beyond [..]

Technical Analysis – Apple stock pauses decline but bearish pressures persist

Posted on September 15, 2022 at 1:38 pm GMT

Apple’s stock has been exhibiting some weakness lately after its latest advance came to a halt at the 176.00 region. Nevertheless, the ascending 50-day simple moving average (SMA) is closing the gap with the 200-period SMA, where a potential violation could ignite a fresh rally. The short-term oscillators currently suggest that negative forces have gained the upper hand. Specifically, the RSI is hovering below its 50-neutral mark, while the MACD histogram is below both zero and its red signal line. Should selling pressures persist, [..]

Technical Analysis – US 30 index hovers above 31,000 after sharp selling interest

Posted on September 15, 2022 at 9:35 am GMT

The US 30 cash index dived aggressively towards the 31,000 round number in the preceding sessions as the 20- and 50-day simple moving averages (SMAs) posted a bearish crossover. The RSI is flattening below the neutral threshold of 50, while the MACD is extending its bearish momentum beneath its trigger and zero lines. Should prices decline, immediate support could be found around 31,000, an area which has provided both resistance and support from June to July. Then a leg below [..]

Technical Analysis – AUDUSD turns green near multi-month lows, bearish bias holds

Posted on September 15, 2022 at 7:55 am GMT

AUDUSD has been inching lower in the short-term, generating a structure of lower highs and lower lows. Although the pair made efforts to recoup some losses, it quickly retraced towards its multi-month lows as the 50-day simple moving average (SMA) capped upside moves. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the RSI is flatlining beneath its 50-neutral threshold, while the stochastic oscillator is descending near the oversold zone. Should the negative momentum strengthen, [..]

Technical Analysis – Ethereum quiet within a triangle range

Posted on September 15, 2022 at 7:45 am GMT

Ethereum (ETHUSD) has been in the red so far this week, gradually retreating after almost touching the 1,800 round level. Despite the soft negative mood, the short-term bias has not switched to the bearish side yet, as the second most popular crypto keeps trading within a symmetrical triangle. The momentum indicators are also reflecting a wait-and-see attitude among traders given the sideways trajectory in the RSI and the MACD. The 38.2% Fibonacci retracement of the latest upleg is currently canceling [..]

Technical Analysis – WTI futures retest 20-day SMA in a descending move

Posted on September 15, 2022 at 6:51 am GMT

WTI futures rebounded off the eight-month low of 81.20 and reached the 20-day simple moving average (SMA) at 89.50. The technical oscillators are showing some contradicting signs. The MACD is surpassing its trigger line suggesting more gains; however, the stochastic is appearing overbought as it is ready to post a bearish crossover within its %K and %D lines. Should the commodity manage to strengthen its positive momentum, the next resistance could come around 90.60. A break above this level could take [..]

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 – EURGBP hovers below 16-month peak; more weakness is on the cards

Posted on September 14, 2022 at 10:18 am GMT

EURGBP has been underperforming in the last few sessions, breaking back below the key 0.8700 level. When looking at the bigger picture the pair lacks a clear trend and has been consolidating after its rally towards the 16-month peak of 0.8720 near the upper Bollinger band. Based on the technical indicators, momentum is too weak to provide a sustained move higher. The RSI is flattening below 70 and the stochastic oscillator is turning lower after the bearish crossover within its %K and %D lines. If [..]

Technical Analysis – Gold tumbles but meets good support zone

Posted on September 14, 2022 at 8:18 am GMT

Gold tumbled yesterday after the hotter-than-expected CPI report from the US. The metal fell below the 1,712 level but was stopped by the crossroads of the 1,697 hurdle and the lower bound of an ascending broadening wedge formation that’s been containing the price action since September 1. Usually, those formations tend to signal continuation of the broader trend upon their completion and thus, a break below 1,697 may be on the cards. The RSI and the MACD increase the likelihood [..]

Technical Analysis – USDJPY touches 24-year high as bullish forces persist

Posted on September 14, 2022 at 7:23 am GMT

USDJPY has been in a prolonged uptrend since early March, crossing forcefully above both its 50- and 200-day simple moving averages (SMAs) and generating consecutive fresh highs. Moreover, despite the recent consolidation, the positive tone appears to be strengthening in the near term as the pair has edged higher again to challenge its recent 24-year high of 144.98. The momentum indicators currently suggest that bullish forces have gained total control. Specifically, the stochastic oscillator is set to post a bullish crossover, while [..]

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