Technical Analysis / Page 245

Technical Analysis – WTI futures extend advance as positive momentum strengthens

Posted on May 27, 2022 at 1:18 pm GMT

WTI oil futures (July delivery) have been in a sustained uptrend since the 92.60 region rejected any further dip, generating a profound structure of higher highs and higher lows. Moreover, the ascending 50- and 200-day simple moving averages (SMAs) endorse the commodity’s positive bearing. The momentum indicators suggest that bullish forces are in control. Specifically, the stochastics are charging higher in the overbought zone, while the MACD histogram has crossed above its red signal line in the positive region. To [..]

Technical Analysis – GBPJPY rangebound after decline halts

Posted on May 27, 2022 at 11:01 am GMT

GBPJPY has experienced a sharp decline after peaking at the six-year high of 168.41 in early April. However, the pair has managed to find its feet and is currently trading sideways, while near-term risks seem to be tilted to the upside. The momentum indicators endorse a cautiously positive tone. The stochastic oscillator is sloping upwards after posting a bullish cross, while the RSI is trying to cross above its 50-neutral threshold. Should buying pressure persist, initial resistance could be encountered [..]

Technical Analysis – USDCAD trickles toward SMAs as sellers retake control

Posted on May 27, 2022 at 9:34 am GMT

USDCAD is extending its retreat from the recorded 17½-month high of 1.3076, heading lower towards the converged simple moving averages (SMAs), which are not now endorsing any sturdy price trend. The pair has retracted within the region of a trading range that had lingered for a period of nearly ten months. The short-term oscillators are reflecting the increase in negative momentum. The MACD, in the positive area, has distanced itself below its red trigger and is approaching the zero mark, [..]

Technical Analysis – GBPUSD pauses advance as bullish momentum fades

Posted on May 27, 2022 at 8:33 am GMT

GBPUSD has been trending upwards since it managed to halt its decline at the two-year low of 1.2154. Although the price ascent has faltered after touching the upper Bollinger band, the pair is retaining its bullish short-term picture. The momentum indicators suggest a loss of steam for the pair. The stochastic oscillator appears ready to post a bearish cross, while the RSI is pointing down above its 50-neutral threshold. Should negative momentum intensify, 1.2550 could act as the first line of [..]

Technical Analysis – BTCUSD extends sideways move but downside risks linger

Posted on May 26, 2022 at 1:45 pm GMT

BTCUSD has been trading within a tight range during the past week, with the decline in volatility probably hinting that traders are scrutinizing the current market conditions to decide the future price direction. Nevertheless, the short-term oscillators indicate a bearish near-term bias. Specifically, the RSI is dipping near the oversold zone, while the MACD histogram has crossed above its red signal line but remains in the negative territory. Should selling interest intensify, the price could descend towards 27,950, which is [..]

Technical Analysis – ExxonMobil stock storms to fresh highs

Posted on May 26, 2022 at 10:18 am GMT

ExxonMobil’s stock has been in a sustained uptrend since the beginning of the year, generating a clear structure of higher highs and higher lows, and is currently trading at fresh seven-year high levels. Nevertheless, the price has surpassed the upper Bollinger band, which suggests that the rally may be overstretched. The momentum indicators reinforce the share’s bullish outlook. Specifically, the MACD histogram is above both zero and its red signal line, while the stochastic oscillator has risen in the overbought zone. Should [..]

Technical Analysis – Nvidia stock moves sideways as negative momentum wanes

Posted on May 26, 2022 at 8:39 am GMT

Nvidia’s stock has been experiencing a sharp drop since mid-March when the price peaked at the 288.07, generating a profound structure of lower highs and lower lows. However, in the last few daily sessions the price has managed to halt its decline and is currently trading within a tight range. The momentum indicators suggest that positive momentum is picking up but bearish forces remain in control. Specifically, the RSI is ticking upwards beneath the 50-neutral threshold, while the MACD histogram [..]

Technical Analysis – US 30 index builds base above the 23.6% Fibonacci

Posted on May 26, 2022 at 8:17 am GMT

The US 30 cash index is rising for the fifth consecutive day, following the bounce off the 30,630 support level, and is surpassing the 23.6% Fibonacci retracement level of the down leg from 36,950.90 to 30,630 at 32,115. The RSI indicator is approaching the 50 level with weak momentum, while the stochastic is moving towards the overbought region. If the price jumps above the immediate 20-day simple moving average (SMA) at 32,300 the next resistance come from the 32,750 barrier. [..]

Technical Analysis – EURGBP stands near 0.8500; appears somewhat neutral in short-term

Posted on May 26, 2022 at 7:13 am GMT

EURGBP posted strong losses on Wednesday, erasing the previous gains, and returning above the 20-day simple moving average (SMA). The bias in the short-term is appearing neutral as the price failed several times to make a daily close above 0.8585. The RSI is sloping slightly upwards in the positive region; however, the MACD is losing momentum below its trigger and zero lines. Should the price retreat further, the 200-day SMA at 0.8437, which the bears were unable to break over the last three [..]

Technical Analysis – AUDUSD sellers resurface, bearish vibe returns below MAs

Posted on May 26, 2022 at 6:26 am GMT

AUDUSD is fading from the 0.7127 price level where its 22½-month bounce within the critical 0.6776-0.6840 support foundation ran out of steam. For now, the simple moving averages (SMAs) are not endorsing a definitive price trend but are weighing on the pair. The short-term oscillators are suggesting that negative momentum is starting to intensify again. The MACD, which had improved in the negative region above its red trigger line, has already started to roll over, hinting that sellers are gaining [..]

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