Indices

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Technical Analysis – GER 30 index pauses sharp downfall near key support; may stay under pressure

Posted on February 25, 2020 at 10:38 am GMT

The German 30 stock index, having unlocked a fresh record high at 13,826 last week, plummeted below the Ichimoku cloud for the first time since August on Monday but the strong cluster of support around 12,950 managed to curb the sharp downfall once again. Technically, there is more downside in store in the near-term according to the RSI and the Stochastics which are fluctuating comfortably within the bearish zone but have yet to confirm oversold conditions. This increases the case [..]

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Technical Analysis – UK 100 index slumps below long-term supportive trendline

Posted on February 24, 2020 at 2:03 pm GMT

The UK 100 stock index slumped below the supportive trendline that has been holding since the end of 2018, increasing concerns that the market may be changing direction to south. The downside reversal in the RSI, which is currently heading towards its 30 oversold mark, is a negative signal that the bearish action may get new legs in the short-term. Yet, a confirmation could only come below the 50% Fibonacci of 7,132 of the 6,535 – 7,728 up leg. If such an incident materializes, the [..]

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Technical Analysis – JP 225 index collapses to 4-month low; 200-SMA acts as support

Posted on February 24, 2020 at 10:33 am GMT

Japan’s 225 stock index (cash) collapsed on Monday as the coronavirus cases outside China increased, shifting funds towards safe havens. The index dived straight to the 200-day simple moving average (SMA) to 4-month lows, losing nearly 4.0% From Friday’s closure. Should the 200-day SMA, which currently stands around the 61.8% Fibonacci of the 21,054-24,162 upleg, prove an easy obstacle, the market could experience additional losses probably towards the 21,863 barrier as the falling RSI suggests. Lower, the next stop could be near 21,480. Otherwise, an upside reversal [..]

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Technical Analysis – US 500 index plummets to 3-week low after gap down

Posted on February 24, 2020 at 10:05 am GMT

The US 500 index (Cash) declined considerably today after the gap down, retreating beneath the 50-day simple moving average (SMA). The price completed a three-week low at 3,249 with the technical indicators moving south. The MACD is extending its bearish structure below the trigger line, while the RSI dropped in the negative territory, strengthening the negative momentum. In case of steeper declines, the market could meet immediate support at the 23.6% Fibonacci retracement level of the up leg from 2,729 [..]

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Technical Analysis – CHI 50 index faces strong resistance at 50- and 100-day SMAs

Posted on February 21, 2020 at 11:14 am GMT

CHI 50 index is capped by the 50- and 100-day simple moving averages (SMAs) and the Ichimoku cloud after the upside recovery from the 12,528 support level. The short-term upside tendency is confirmed by the technical indicators. The MACD is extending its bullish move near the zero line, as it holds above its trigger line. Furthermore, the RSI is heading north in the positive area, while the red Tenkan-sen line is moving higher following the price action. Should the index [..]

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Technical Analysis – Dollar index reactivates 2-year old uptrend in overbought zone

Posted on February 20, 2020 at 9:27 am GMT

The US dollar index futures cleared the tough ceiling around 99.30 and spiked to a 33-month high of 99.74 on Thursday, re-activating the two-year old upward pattern off 88.13. If the bulls manage to close decisively above the former resistance level of 99.60 from 2015, the next key obstacle is expected to pop up around 100.60. Since the RSI and the MACD have yet to show signs of weakness, the odds for such a case are currently looking high. If [..]

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Technical Analysis – US 500 index looks to be in the process of a minor bearish pullback

Posted on February 18, 2020 at 12:06 pm GMT

The US 500 index (Cash) is retreating after pivoting from the all-time high of 3,392.21 reached on Monday. The long-term picture remains strongly bullish, however, in the very short-term, the technical indicators are suggesting a possible downside correction. The MACD is heading south in the positive territory, while the RSI is sloping down above the 50 level. In the wake of negative pressures, the market could meet support at the 50-day simple moving average (SMA) currently at 3,270 before it heads lower to the 23.6% Fibonacci retracement level [..]

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Technical Analysis – GER 30 index hits fresh record high; could stabilize in short-term

Posted on February 13, 2020 at 3:53 pm GMT

The German 30 stock knocked January’s all time high of 13,639 on Wednesday and printed a fresh peak of 13,791 on Thursday. With the price pulling below the upper Bollinger band, some caution could emerge in the short-term. Still, any weakness could prove temporary if the area between the middle Bolinger band, which is also the 20-day simple moving average (SMA), and the 50-day SMA currently near 13,300 rejects any move lower, shifting the spotlight back to the 13,600 level [..]

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Technical Analysis – US 100 Index’s boost dwindles as it looks for a new summit

Posted on February 10, 2020 at 3:12 pm GMT

US 100 Index’s (Cash) recent appreciation, which bounced off the blue Kijun-sen line around 9,056, produced a fresh all-time high of 9,459. That said, the index appears to have taken a breather, something also reflected in the technical indicators, which display some wanings in positive momentum. The MACD, although deep in the positive region and above its red trigger line, has lost steam, while the RSI is hovering below the 70 level. The Stochastics also warn of possible weakness in [..]

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Technical Analysis – Dollar Index futures hold at 4-month high; lack direction in long-term

Posted on February 10, 2020 at 8:52 am GMT

The US dollar index reached a fresh four-month high of 98.56 as the price extended its bull run well above the Ichimoku cloud and the moving averages lines. Prices broke above the 98.47 barrier and the technical indicators are suggesting a weaker bullish move. The MACD is holding above the trigger and zero lines, while the RSI flattens near the 70 level. It is worth mentioning that the 20-day simple moving average (SMA) crossed above all the short- and long-term [..]

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