Technical Analysis – CHI 50 stock index accelerates to 2020 highs

Posted on July 2, 2020 at 11:13 am GMT

China’s 50 stock index (cash) is recording another stunning green day, rallying by more than 5% since the latest rebound on the 20-day simple moving average (SMA) to re-challenge the 2020 high of 14,678. The sharp move drove the pair to overbought territory according to the RSI, which pierced above 70. However, the indicator has yet to reverse lower and the stochastics seem ready to return above 80, so the rally may still have some fuel to burn. Above the [..]


Technical Analysis – US Dollar index tries to surpass 23.6% Fibonacci

Posted on July 1, 2020 at 11:06 am GMT

The US dollar index rebounded on the three-month trough of 95.60, finding resistance at the 23.6% Fibonacci retracement level of the down leg from 103.80 to 95.60 at 97.52. The technical indicators seem to be contradicting each other as the MACD holds above the trigger line and is looking bullish, however, the stochastic oscillator is turning lower, suggesting a possible pullback in the short-term. If buying interest picks up, early tough resistance could occur at the bearish cross of the 40-day simple moving [..]


Technical Analysis – US 500 index’s sideways shift fades below 200-MA

Posted on June 29, 2020 at 1:38 pm GMT

US 500 stock index (Cash) is attempting to reclaim the 200-period simple moving average (SMA) after dipping below it in the previous session. The recent horizontal glide in the price after the pullback from the three-and-a-half-month top of 3,233, has been dwindling as negative tensions build. The neutral-to-bearish tone in the 50- and 100-period SMAs and the negative bearing in the Ichimoku lines further back the deteriorating view. Additionally, the price remains below the cloud and the vital 200-period SMA. [..]


Technical Analysis – US 30 index pauses its upside rally below 200-day SMA

Posted on June 26, 2020 at 11:26 am GMT

The US 30 cash index has lost its strong positive momentum after the pullback from the three-and-half month high of 27,369 on June 9. The price found strong resistance at the 200-period simple moving average (SMA) over the last few days and is still consolidating above the 23.6% Fibonacci retracement level of the up leg from 18,145 to 27,639 at 25,340. According to the technical indicators, the MACD is losing ground below the trigger line, while the RSI is moving [..]


Technical Analysis – UK 100 index rebounds on 50-day SMA; bullish mode intact

Posted on June 25, 2020 at 1:50 pm GMT

The UK 100 index (Cash) is pausing its downside movement around the 50-day simple moving average (SMA) shifting the very short-term picture to the downside. According to the momentum indicators, the MACD is moving beneath its trigger line, marginally above the zero level, while the RSI dropped into the negative zone and is pointing south. A clear move below the 50-day SMA could send prices towards the 38.2% Fibonacci retracement level of the downward wave from 7,690 to 4,860 at 5,931. Further weakening could drive the market to 5,655, losing some [..]


Technical Analysis – US 100 index flies to new records

Posted on June 23, 2020 at 2:43 pm GMT

The US 100 cash index (Nasdaq) entered uncharted waters today once again, breaking above its previous all-time high of 10,155. The picture is overwhelmingly positive, with the price printing higher highs and higher lows above all its simple moving averages (SMA). Short-term oscillators detect strengthening upside momentum, endorsing the bullish picture. The RSI, already in positive territory, looks to be headed for a test of its 70 line soon, while the MACD just crossed above its red trigger line, which [..]


Technical Analysis – GER 30 index’s retracement forced sideways; positive picture under strain

Posted on June 22, 2020 at 2:43 pm GMT

Germany 30 Index’s (Cash) bounce on the 11,588 level, that being the 61.8% Fibonacci retracement of the down leg from 13,826.27 to 7,961, appears to have hit a ceiling at the 76.4% Fibo of 12,444. The current sideways move is further backed by the recent bearish overlap of the improving 100-period SMA by the falling 50-period one, around 12,258. Additionally, momentum indicators are highlighting the paused demeanour in the price as the MACD and the RSI remain stuck around their [..]


Technical Analysis – US 500 index holds marginally below 100-SMA; bullish in long term

Posted on June 22, 2020 at 1:08 pm GMT

The US 500 cash index found strong resistance around the 100-period simple moving average (SMA) over the last session, sending the indicators lower as well. The MACD is heading south below zero and its trigger line, while the RSI is pointing down below the neutral level of 50. Also, the red Tenkan-sen line declined beneath the blue Kijun-sen line suggesting more losses in the 4-hour chart. Should prices head lower, immediate support could come from the 38.2% Fibonacci retracement level of the upward [..]


Technical Analysis – UK 100 index attempts to climb above 23.6% Fibo

Posted on June 19, 2020 at 11:19 am GMT

The UK 100 cash index is pushing efforts to extend buying pressure above the 23.6% Fibonacci retracement level of the up leg from 5,639 to 6,510 at 6310, having climbed above the bullish crossover within the 20- and 40-period simple moving averages (SMAs). The MACD is ready to stretch to the upside, while the stochastic oscillator is heading up towards the overbought region. A successful break above the 23.6% Fibo could open the way towards the three-month peak of 6,510 before the 6,760 barrier, taken from the high on January 2019, comes into view. Higher, [..]


Technical Analysis – US 30 stock index keeps uptrend safe, but doubts rise

Posted on June 19, 2020 at 10:38 am GMT

The upward pattern in US 30 stock index (cash) lost some shine after the print of a lower high at 26,791 in the four chart, but the positive trend remains valid as long as the market action develops above 24,850. Looking at the short-term window, the index is trapped between a descending trendline and the 25,770 support area and unless one of these borders collapses, the neutral mode is likely to stay intact. Technically, the bias is viewed as cautiously positive given the latest rebound [..]

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