Indices

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Technical Analysis – CHI50 stock index retreats to meet supportive trendline

Posted on April 9, 2020 at 12:09 pm GMT

China’s 50 stock index (CHI50) is testing the ascending trendline that has been navigating the market since the slump to a one-year low of 11,558. The negative cross between the red Tenkan-sen and the blue Kijun-sen lines and the weakening RSI on the four-hour chart hint that downside risks remain. To confirm that, the index needs to slip below the trendline and push towards the 38.2% Fibonacci of 12,593 of the downleg from 14,241 to 11,558. If sellers persist, traders could [..]

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Technical Analysis – US 100 stock index starts a bullish correction in short-term

Posted on April 8, 2020 at 1:07 pm GMT

The US 100 cash index has been making higher highs and higher lows through the end of March after it touched a more than 14-month low of 6,635, pausing the aggressive downward movement.  The technical indicators continue to send some bullish signals, suggesting that the positive momentum is not over yet. The RSI, slightly above 50, is indicating that the market could strengthen a little bit in the short-term. Stochastics are not yet in oversold territory with the %K and %D positively aligned, creating a bullish crossover. [..]

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Technical Analysis – GER 30 index exits neutral zone but new barrier pops up

Posted on April 7, 2020 at 2:49 pm GMT

The German 30 stock index escaped from an almost three-week old range on the four-hour chart but quickly found new resistance near the 200-period simple moving average (SMA) on the way up. According to the RSI and the Stochastics, there is not much upside left as the indicators are reversing southwards after peaking in the overbought area. In the event of a downside reversal, the 38.2% Fibonacci retracement of the bearish wave from 13,826 to 7,961 at 10,200, could come to rescue in scope to push the price [..]

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Technical Analysis – US Dollar index recoups some strong losses; neutral in very short term

Posted on March 30, 2020 at 12:26 pm GMT

US dollar index futures have been recouping some of the preceding days’ losses following the plunge from the three-year peak of 103.80. The price is currently hovering above the 20- and 40-day simple moving averages (SMAs), while the RSI is turning higher near the 50 level. However, the MACD oscillator is still moving beneath the trigger line, continuing the sell-off on price action. To the upside, immediate resistance could come from the 50.0% Fibonacci retracement level of the up leg [..]

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Technical Analysis – US 500 index’s correction weakens under 100-SMA

Posted on March 30, 2020 at 12:00 pm GMT

US 500 index (Cash) seems to have lost steam in its pullback from the multi-year low of 2,183.95 dropping the price back to its mid-Bollinger band around the 100-period simple moving average (SMA) at 2,561. The stall in positive momentum is also reflected in the short-term oscillators. The MACD, in the positive region, has dropped below its red trigger line, while the RSI, declined to hover above its neutral mark. On top of this, the downward sloping 100- and 200-period [..]

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Technical Analysis – JP 225 index flirts with 20-SMA after sharp rebound; bearish bias intact

Posted on March 27, 2020 at 1:01 pm GMT

Japan’s 225 stock index barely surpassed the 2019 support-turned-resistance level of 19,239 as the blue Kijun-sen line stood tall. Nevertheless, it managed to close slightly above the 20-day simple moving average (SMA). The RSI and the Stochastics reflect that downside risks remain in place as the former seems to be losing momentum before even touching its 50 neutral level, while the latter is ready to post a bearish cross above its 80 overbought mark. Still, if the index holds above the [..]

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Technical Analysis – US 30 stock index death cross completed due to aggressive sell-off

Posted on March 27, 2020 at 10:39 am GMT

The US 30 cash index is retracing higher following the rebound on the 40-month trough of 18,145 on Monday. However, the price found resistance near the 38.2% Fibonacci retracement level of the down leg from the all-time high of 29,582.61 to the multi-month low of 18,145 at 22,518. The 50- and 200-day simple moving averages (SMAs) posted a ‘death cross’ in the preceding sessions, as the strong sell off drove the market steeper lower. The RSI is pointing down after [..]

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Technical Analysis – US 500 Index attempts to correct from 39-month low

Posted on March 23, 2020 at 1:48 pm GMT

US 500 index (Cash) gapped today underneath the inside swing low of 2,273 reaching a multi-year low of 2,183.95 before buyers surfaced, steering the price back up towards the 2,350 area, where the flat Ichimoku lines are located. The short-term oscillators, although negative, reflect some strengthening in positive momentum. The MACD, in the negative zone, is below its red trigger line but looks to be moving back above it. The RSI, in the bearish region, is rising towards its neutral [..]

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Technical Analysis – Spain 35 index recovers somewhat in near term; remains near low levels

Posted on March 23, 2020 at 1:27 pm GMT

The Spain 35 cash index has come under selling pressure after the strong downfall from the 21-month peak of 10,102 and remaining well below the longer-term simple moving averages (SMAs). However, the price rebounded on the multi-year low of 5,804 enhancing the argument that the picture may not be entirely negative at the moment, giving some signals for a possible upside correction in the near term. Looking at momentum oscillators on the daily chart, they suggest a slightly bullish to [..]

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Technical Analysis – US 30 stock index retests 3-year lows; death cross awaited

Posted on March 18, 2020 at 1:44 pm GMT

The US 30 index stretched its one-month rally to a three-year low of 19,899 on Tuesday before pulling slightly higher. The MACD seems to be losing momentum below its red trigger line, while the RSI is still hovering around its 30 oversold mark. Moreover, the red Tenkan-sen line is sloping down below the blue Kijun-sen line, thus all signaling a more cautious trading in the short term. Additionally, the 50- and the 200-day simple moving averages (SMAs) are in the process of completing a ‘death cross’. The market trend is likely to hold to the downside [..]

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