Technical Analysis – US500 index grows bullishly; eyes 2,940 resistance

Posted on August 19, 2019 at 11:15 am GMT

The US 500 stock index (cash) is looking increasingly positive in the short term, having surpassed its 50-period simple moving average (SMA) and the Ichimoku cloud and given the positive direction in the RSI and the MACD. The bulls, however, may need to lift the index above the 2,940 barrier to confirm further upside, while a significant break above the 200-period SMA (2,960) may increase buying interest towards the 3,000 level. Should the price retreat below the cloud, traders could search for immediate [..]


Technical Analysis – US 30 index caught in no-man’s land

Posted on August 13, 2019 at 11:36 am GMT

The US 30 index suffered some losses in early August, but managed to recover part of them, and currently sits between its 50- and 200-day simple moving averages (SMAs). The near-term bias therefore seems neutral, with a break of either SMA needed to provide a directional signal. Short-term momentum indicators paint a flat-to-negative picture. The RSI is flattening above its 30 line, though the MACD seems to be moving deeper into the negative territory. Further declines could encounter support near [..]


Technical Analysis – US500 index slips to retest 50-SMA but bullish bias not faded yet

Posted on August 9, 2019 at 10:25 am GMT

The US500 stock index managed to restore more than half of the losses it recorded after reaching a new record high last week, and even though it failed to hold above the 50-period simple moving average (SMA), the bullish forces have not fully faded yet. The MACD continues to pick up strength in positive territory and comfortably above its signal line, the RSI continues to consolidate in bullish area, while in Ichimoku indicators, the red Tenkan-sen is flattening above the [..]


Technical Analysis – US dollar index turns south from new multi-month high; halts at the 100-SMA

Posted on August 7, 2019 at 1:15 pm GMT

The US dollar index produced a new twenty-six-month high of 98.67. Sellers took control and logged a correction from the high on August 1 toppling the price to the 97.00 hurdle. The level is the 50.0% Fibo retracement of the up move from 95.34 to 98.67, coupled with the 100-day simple moving average (SMA). The MACD and the RSI are suggesting that a revival of the bullish directional momentum could evolve, as the RSI has rebounded off the 50 level [..]


Technical Analysis – JP225 index slumps to oversold area; key support ahead

Posted on August 5, 2019 at 1:18 pm GMT

Japan’s 225 stock index has been unable to clear the heavy resistance around the 50% Fibonacci extension of the long donwleg from 24,472 to 19,239, with the price falling forcefully below its simple moving averages (SMA) and the Ichimoku cloud over the past week. The RSI and the Stochastics suggest that negative momentum could stall in the short-term as both indicators have slumped into oversold territory, but according to the MACD any price reversal may not last for long as the index seems to have [..]

Technical Analysis – GER30 index needs a break above 20-SMA

Posted on August 1, 2019 at 1:19 pm GMT

The GER30 index put breaks on Wednesday’s sell-off and geared up to move-off one-month lows but the 20-period simple moving average (SMA) in the four-hour chart did not let the recovery to continue. In the short-term the bulls could revisit the 20-period SMA if the RSI and the MACD keep improving. Any significant step higher and above the 38.2% Fibonacci of 12,279 of the downleg from 12,661 to 12,043 could open the door for the 50% Fibonacci of 12,534 and [..]


Technical Analysis – US30 index turns sideways after making new highs

Posted on July 31, 2019 at 12:12 pm GMT

US30 stock index has pushed higher, making higher highs, after breaching the 26,708 high from May 1. The two-month run up from the low of 24,606 produced the 27,403 all-time-high, but the price has currently paused and moved into a short-term sideways market. The MACD is below its red trigger line in the positive region, whilst the RSI hovers midway between the neutral and over bought levels. The ADX is currently showing weakness and the absence of a trend in [..]

Technical Analysis – UK100 index soars to one-year highs

Posted on July 30, 2019 at 10:14 am GMT

The UK100 stock index recorded its best daily gain in more than three years on Monday, while early on Tuesday the market opened even higher to top at 7728, the highest price since last August. According to the stochastics, there is still some room for improvement as the indicator is positively sloped and has yet to print a bullish cross above its 80 overbought mark. The MACD is picking up steam as well and is above its red signal line, [..]


Technical Analysis – US500 Index retests and pushes through previous all-time high

Posted on July 25, 2019 at 2:24 pm GMT

US 500 stock index after retreating last week, began a sure but steady move to revisit the all-time high of 3019, and currently is climbing above it. The price found support at the Tenkan-sen average, and the moving averages are headed higher holding the price above them. The momentum indicators suggest a quick reload necessary for the jump ahead, as the MACD is nearing a cross above the trigger in the positive region, whilst the RSI is slightly pointing up [..]

Technical Analysis – GER30 index keeps growing in overbought area

Posted on July 25, 2019 at 8:10 am GMT

The GER30 index gained considerable traction this week, with the price breaching the downward move that started from the almost one-year high of 12,661 and passing through the Ichimoku cloud. The technical picture suggests a cautiously bullish bias for the short-term as the MACD keeps running above its red signal line and the RSI is flattening around the 70 overbought area. The bulls could continue the rally until the 12,620-12.640 area. Should the bullish pressure strengthen above the 12,661 top, resistance could rise [..]

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