Technical Analysis – GER 30 index bullish at fresh highs; nears key obstacle

Posted on May 26, 2020 at 10:16 am GMT

The German 30 stock index (cash) found support at the 50% Fibonacci of the virus-led sell-off and crawled to a fresh high of 11,537 on Tuesday. With the price deviating above its shorter-term moving averages (SMAs) and the ichimoku cloud at a time when the RSI keeps sloping upwards, additional gains could follow in the short-term. Still, in breathing distance is the 61.8% Fibonacci of 11,585, which could halt the buying pressure, sending the pair back to the 50% Fibonacci [..]


Technical Analysis – US 500 finds roof at 11-week high; holds above SMAs

Posted on May 25, 2020 at 9:35 am GMT

The US 500 index (Cash) has finally reversed to the upside last Friday after flirting with the 50-period simple moving average (SMA) around 2,906. The upward pattern started at the end of March, but the market needs to beat the immediate resistance at 2,980 for more significant increases. Above that the market could meet the 3,140 – 3,205 resistance, taken from the high on March 3 and the inside swing low from January 31. The momentum indicators in the four-hour chart though [..]


Technical Analysis – US 30 index fails to improve the bullish picture

Posted on May 22, 2020 at 9:52 am GMT

The US 30 index is creating a sideways channel with an upper boundary the 24,913 resistance and lower boundary the 22,900 support. The index is still developing above the 50-day simple moving average (SMA), however, the MACD oscillator is flattening in the positive region and the RSI is approaching the neutral region, endorsing the neutral mode in the short-term. Should the index make another run lower, it’s likely to meet support at the 50.0% Fibonacci retracement level of the downward wave [..]


Technical Analysis – UK 100 index retests mid-Bollinger band; holds in ascending channel

Posted on May 21, 2020 at 2:12 pm GMT

The UK 100 index (Cash) looks to be mostly neutral in the very short-term after an ascent from the March 30 low of 5,294. The short-term oscillators reflect a stall in the positive momentum. The MACD is flattening in the positive area, while the stochastics, which are currently dropping lower are suggesting an overbought market. If sellers manage to close decisively below the 20-period simple moving average (SMA), the 5,915 support, which overlaps with the 40-period SMA and the lower [..]


Technical Analysis – US 100 index dreams of February’s record highs as rally continues

Posted on May 20, 2020 at 3:12 pm GMT

The US 100 stock index (cash) has almost recovered from the covid-19 injury, comfortably recouping the lost ground within the 9,000 territory this week and further deviating above its simple moving averages (SMAs). According to the strengthening RSI and the rising Stochastics, there is more bullish fuel in store, which could drive the price towards its record-high of 9,750 registered in February. For that to happen, though, the 9,460 resistance needs to give way first, while in case the market [..]


Technical Analysis – US 500 index breaches MAs, attempts to resume climb

Posted on May 18, 2020 at 7:20 am GMT

US 500 stock index (Cash) in previous sessions found a foothold at the advancing 200-period simple moving average (SMA) currently at the 2,789 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time-high of 3,396.64 till the 39½-month low of 2,183.95. At present, the price has pierced above the mostly flat 50- and 100-period SMAs and the positive move seems to be backed by the short-term oscillators. The MACD in the negative zone is above its [..]


Technical Analysis – US 30 index’s ascent slows, forming head and shoulders pattern

Posted on May 15, 2020 at 9:37 am GMT

US 30 stock index’s (Cash) one-month ascent from the multi-year low of 18,170 seems to have eased, forming a head and shoulders pattern on the daily timeframe. The price is currently testing the neckline of the pattern barely under the 23,869 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time-high of 29,582.61 to the 40½-month low of 18,170. The short-term oscillators appear to be leaning towards the downside, accompanying the already negatively charged simple moving [..]


Technical Analysis – UK 100 index’s correction from 8½-year low at risk

Posted on May 14, 2020 at 2:58 pm GMT

UK 100 stock index (Cash) is losing steam within the Ichimoku cloud after reversing from the 6,230 level, that being the 50.0% Fibonacci retracement of the down leg from the 7,689 peak to the multi-year low of 4,778. Backing the last two-week deterioration in price is the fading red Tenkan-sen line and the falling stochastics. Moreover, the RSI is picking up negative momentum by dipping below its neutral threshold, while the simple moving averages (SMAs) retain their bearish tone, which [..]


Technical Analysis – JP 225 index steadily gains ground

Posted on May 13, 2020 at 2:32 pm GMT

JP 225 stock index (Cash) continues to gradually appreciate backed by the positively charged simple moving averages (SMAs). Further fuelling the upward incline, are the Ichimoku lines – though slightly weakened – and the Ichimoku cloud. Glancing at the short-term oscillators, they too reflect some stalling in momentum despite remaining in positive territories. The MACD, in the positive section, has slipped below its red signal line, while the RSI, above its neutral threshold has turned downwards. If the positive structure [..]


Technical Analysis – GER 30 Cash index retains bullish bias in short-term            

Posted on May 12, 2020 at 1:27 pm GMT

The GER 30 Cash index has been trading in an upward sloping channel since March 27 and is resting near the 20-period simple moving average (SMA) in the 4-hour chart. The RSI indicator is moving sideways in the positive area, while the MACD dropped beneath its trigger line. Both are suggesting a weak momentum in the very short-term. In case that the price remains above the Ichimoku cloud, it could visit the one-month peak of 11,339. Breaching that area, buying [..]

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