Technical Analysis – US 100 index forms a ‘death cross’ as negativity persist
Posted on March 4, 2022 at 8:43 am GMTThe US 100 index has taken some heavy damage lately, briefly reaching a 10-month low at 13,030 last week. Elevated negative pressures are still troubling the index, with the 50-day simple moving average (SMA) crossing recently below the 200-day SMA forming a ‘death cross’, which reinforces the thesis for a sustained bearish outlook. The short-term momentum oscillators are painting a mixed picture as the RSI is steady below its 50 neutral mark. On the other hand, despite being below zero [..]