Technical Analysis – JP225 index unable to push through the 100-SMA
Posted on August 22, 2019 at 3:04 pm GMTJapans’ 225 stock index experienced a one-week rally from a low of 20,097 past the 50-period simple moving average (SMA), to then hit a wall at the 100-period SMA. The 50- and 100-period SMAs have begun to converge and momentum has started to evaporate. The indicators, although in positive territory, reflect a decreasing positive directional momentum as the MACD has dropped below the red trigger line near the zero line, whilst the RSI is declining to try and breach the [..]