Technical Analysis / Page 299

Technical Analysis – Gold slips back below 1,800 but trendless bias holds

Posted on January 10, 2022 at 8:56 am GMT

Gold’s downside forces have paused a tad beneath the 1,800 mark with the price resting on the 100-day simple moving average (SMA). A more neutral trajectory is being endorsed by the lack of trend in the SMAs. The Ichimoku lines are not indicating a clear price direction especially after the price gains from the 1,753 trough, which have been relatively offset by the pullback in the commodity off the 1,832 recent high. The short-term oscillators are tilting a tad to [..]

Technical Analysis – US 500 index slips after posting all-time high; bias bearish

Posted on January 10, 2022 at 8:21 am GMT

The US 500 stock index (cash) has been plummeting in the four-hour chart since its upside trajectory peaked at the all-time high of 4,817. Moreover, the price crossed beneath both its 50-period simple moving average (SMA) and the Ichimoku cloud, further reinforcing the index’s imminent bearish bias. The recent pullback is likely to resume as the short-term oscillators indicate that selling forces have taken control. The MACD is found below its red signal line in the negative region, while the RSI is ticking slightly upwards well below its 50-neutral mark. If the price continues to descend, immediate support [..]

Technical Analysis – EURUSD indecisive but some patience could be exercised

Posted on January 10, 2022 at 8:19 am GMT

EURUSD resumed its negative momentum during Monday’s early European trading hours after barely closing above the restrictive 50-day simple moving average (SMA) on Friday at 1.1359. As long as the ascending trendline is building the soft upward trajectory in the short-term picture, the focus will remain on the upside. That said, the momentum indicators have not clarified strong bullish signals yet, suggesting that traders could keep behaving carefully for a bit longer. Particularly, the RSI continues to fluctuate around its 50 neutral mark, [..]

Technical Analysis – AUDUSD’s progress curbed by Ichimoku cloud and MAs

Posted on January 7, 2022 at 1:51 pm GMT

AUDUSD is struggling to push further north of the 0.7300 mark as the 50- and 100-day simple moving averages (SMAs) along with the Ichimoku cloud are directing the pair lower. The overall bearish demeanour of the SMAs is defending the gradual drop in the pair. The Ichimoku lines are not indicating a dominant directional drive in the pair, while the short-term oscillators are suggesting that negative momentum is growing in power. The MACD has nudged below its red trigger and [..]

Technical Analysis – WTI oil futures brighten short-term outlook

Posted on January 7, 2022 at 10:49 am GMT

WTI oil futures (February delivery) gained significant positive traction on Thursday following the close above the descending trendline, with the price accelerating towards an eight-week high of 80.43 today. Although the restrictive area around 80.65 is overhead, the RSI and the Stochastics have yet to clarify overbought signals as the former is still below 70 and the latter has resumed its positive slope to pierce above 80. Meanwhile, the MACD continues to strengthen above its red signal line, endorsing the ongoing [..]

Technical Analysis – GBPJPY bulls hang in there despite minor pullback to 157

Posted on January 7, 2022 at 9:59 am GMT

GBPJPY’s strong two-week rally, which began from 149.50 has lost steam just shy of the 157.84 level and the more than 5-year high of 158.20, the former being the 161.8% Fibonacci extension of the down leg from 144.94 until 124.00. The simple moving averages (SMAs) have flatlined, implying a more neutral bearing in the pair in the short-term timeframe. The short-term oscillators are transmitting conflicting messages in directional momentum. The MACD, in the positive region, continues to strengthen above its [..]

Technical Analysis – US 30 retreats from all-time high as bearish forces reign

Posted on January 7, 2022 at 9:18 am GMT

The US 30 stock index (cash) has been experiencing a minor pullback in the last few four-hour sessions since its long-term rally peaked at the all-time high of 36,950. Moreover, the price crossed below its 50-period simple moving average (SMA), reinforcing the index’s imminent bearish bias. The recent retreat is likely to continue as the short-term oscillators confirm that sellers have gained the upper hand. The MACD is found below its red signal line in the negative region, while the RSI [..]

Technical Analysis – USDCAD finds support at 1.2700 but mood still gloomy

Posted on January 7, 2022 at 9:00 am GMT

USDCAD is facing difficulties in extending Monday’s swift bullish correction, which helped the pair survive a trend deterioration below the previous low of 1.2606 in the short-term window. Despite the flash pickup to 1.2812 yesterday, the price flipped back to maintain its weekly neutral trajectory within the 1.2700 – 1.2750 region, with the former representing the 38.2% Fibonacci retracement of the 1.2287 – 1.2962 upleg. The technical signals are currently illustrating a gloomy mood among traders as the MACD has further [..]

Technical Analysis – USDCHF powers back, crossing above its 50- and 200-SMA

Posted on January 7, 2022 at 8:44 am GMT

USDCHF powered back from its late December low, halting a five session losing streak and crossing above the 50- and 200-day simple moving average (SMA). The cautiously bullish outlook for the pair is maintained despite failing to mark yet another successive higher low in December. Short-term momentum indicators are supporting a positive bias for the pair. The RSI is found above its 50 neutral mark, while the MACD is looking ready to cross above zero, which would be an encouraging [..]

Technical Analysis – Natural gas stuck within bearish rectangle

Posted on January 5, 2022 at 3:59 pm GMT

Natural gas futures (February delivery) shifted to the sidelines following the sharp sell-off at the start of December, with the price moving back and forth between the 4.060 and 3.500 boundaries thereafter. Usually, a consolidation phase in the middle of a downtrend is a sign of continuation of the original trend. Also, taking the bearish crossover between the 20- and 200-day simple moving averages (SMAs) into consideration, there is a greater risk for the downward pattern to gain extra legs. Should the [..]

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