Technical Analysis / Page 629

Technical Analysis – Facebook stock stops near 9-month high; positive risks not faded yet

Posted on July 2, 2019 at 1:39 pm GMT

Facebook stock price advanced to a fresh one-month high of 195.00 yesterday before ending the day in the red. Momentum indicators signal are neutral to bullish with the RSI flattening in the positive territory and the MACD stretching to the upside above trigger and zero lines. However, the red Tenkan-sen line, which is above the blue kijun-sen line, looks to be heading north. Also, the price successfully overcame the Ichimoku cloud, suggesting that more gains would follow. An advance could stop at the nine-month high of 197.18 while [..]

Technical Analysis – US dollar index struggles below 200-SMA; long-term upward channel intact

Posted on July 2, 2019 at 12:09 pm GMT

The US dollar index has gained some remarkable ground after the climb above the 23.6% Fibonacci retracement level of the upward movement from 88.10 to 98.25 near 95.84. Currently, the index is failing to surpass the 200-day simple moving average (SMA), which coincides with the 96.40 resistance, flirting with a possible drop. However, the stochastic oscillator is fluctuating in the overbought mark and the MACD is recording a bullish crossover with its trigger line in the negative zone. Should the price [..]

Technical Analysis – WTI futures remain above 50.0% Fibo; MACD signals negative divergence

Posted on July 2, 2019 at 8:37 am GMT

WTI crude oil futures are on course to jump above the 20-simple moving average (SMA) after they found crucial support at the 50.0% Fibonacci retracement level of the downleg from 66.60 to 50.60 near 58.58 over the last sessions. Having a look at the technical indicators, the MACD oscillator is creating a bearish divergence as it is slipping at the same time that prices are moving higher in the 4-hour chart, suggesting a possible negative correction soon. However, the RSI [..]

Technical Analysis – GBPUSD bears back into play; builds base around 20-SMA

Posted on July 2, 2019 at 6:28 am GMT

GBPUSD touched the upper Bollinger band around the 1.2780 resistance level in the previous week, driving the market lower, below the 40-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of the downfall from 1.3380 to 1.2500 near 1.2712. The pair continues the selling interest in the medium-term as it is confirmed by the technical indicators, which have been holding in the negative territory. The RSI is flattening below the 50 level and the MACD is trying to [..]

Technical Analysis – CADJPY opens with positive gap; bullish cross within SMAs

Posted on July 1, 2019 at 1:32 pm GMT

CADJPY opened a gap up today, climbing above the 82.60 barrier and meeting the 50.0% Fibonacci retracement level of the downfall from 89.25 to 76.60 near 82.90. Having a look at the momentum indicators, the RSI is sloping up near the overbought threshold and the MACD is strengthening its momentum above trigger and zero lines. An advance above the 50.0% Fibonacci (82.90) could open the door for bullish actions until the 61.8% Fibonacci region, which overlaps with the 84.40 resistance level, registered [..]

Technical Analysis – US 30 index flirts with new record peak

Posted on July 1, 2019 at 12:44 pm GMT

The US 30 stock index is currently challenging June’s peak of 26,907 but the positive momentum in the MACD, which trends above its trigger line, signals that a new record high could be achievable as well in the next few sessions. Still, the RSI warns that the market is approaching overbought territory and hence downside corrections cannot be ruled out. Jumping above the 26,907 resistance level, the bulls would aim to test the uncharted area between 27,000 and 27,500. Otherwise, if the market [..]

Technical Analysis – Gold tumbles inside Ichimoku cloud; bearish in short-term

Posted on July 1, 2019 at 8:35 am GMT

Gold prices have reversed back down again after finding resistance at the six-year high of 1439 at the end of the preceding month. Currently, prices are developing within the Ichimoku cloud and the red Tenkan-sen and the blue Kijun-sen lines are pointing down, suggesting more losses. The 20- and 40-simple moving averages (SMAs) posted a bearish crossover in the 4-hour chart, while the stochastic oscillator and the RSI are heading towards the oversold zone. Further losses should see the 38.2% [..]

Technical Analysis – EURUSD eases below 3-month high in near term

Posted on July 1, 2019 at 6:49 am GMT

EURUSD remains under pressure and risk is still to the downside in the short-term as prices continue to drift below the 38.2% Fibonacci retracement level of the downleg from 1.1815 to 1.1110 near 1.1380. After the pullback on the three-month high of 1.1410, technical indicators reversed lower as well, suggesting a possible bearish bias again. The MACD oscillator is falling in the positive territory, while the stochastic is moving lower, approaching the 20 level. If price action drops, there is [..]

Technical Analysis – Intel stock retreats after hitting 50-day SMA

Posted on June 28, 2019 at 11:47 am GMT

Intel’s stock is moving lower after finding significant resistance at the 50-day simple moving average (SMA). However, price action since late May consists of higher lows, the short-term picture seems to have shifted to cautiously positive. Thursday’s downward tendency is supported by short-term momentum oscillators as well, with the RSI being in positive territory and pointing down, while the MACD holds above its red trigger and zero lines with weak momentum. If the bears stay in control, immediate support to declines [..]

Technical Analysis – GBPCAD posts 20-month low; looks for a rebound in short-term

Posted on June 28, 2019 at 9:32 am GMT

GBPCAD is currently trading not too far away from yesterday’s 20-month low of 1.6572, having pulled back marginally. The momentum indicators suggest that there is a potential for an upside correction. The RSI, which has been moving around its 30 level over the last month, is pointing up in the oversold area, while the stochastic oscillator is looking for a bullish cross below the 20 level. If the price fails to hold today’s positive momentum, falling below the 1.6572 bottom, the 1.6340 support level, taken from the low on October 2017, [..]

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