Indices

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 [..]

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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, [..]

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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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Technical Analysis – US dollar index completes 7-week high in ascending channel

Posted on July 24, 2019 at 8:58 am GMT

The US dollar index is heading strongly upwards at a new seven-week high of 97.45 after the jump above the 50-day simple moving average (SMAs), posting remarkable gains. However, the stochastic oscillator seems to be overbought as it is trying to turn lower, while the RSI is flattening in the positive territory but remains above the uptrend line. Should the price stretch north the two-year high of 98.25 could come into focus. If the buying interest extends, attention could then [..]

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Technical Analysis – UK 100 index rises slightly but remains below 11-month high

Posted on July 23, 2019 at 11:14 am GMT

The UK 100 stock index (FTSE 100) has been trading slightly higher following the rebound on the 7473 support level. The stochastic oscillator confirms this short-term upside view, as it is heading north above the oversold territory. Also, the RSI is pointing up in the positive area. If the price manages to extend the bullish action and successfully surpass the eleven-month high, resistance would come from the 7790 barrier, taken from the high on August 2018. Further up, the index could rest around the [..]

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Technical Analysis – US 500 index retreats below record high of 3,020

Posted on July 18, 2019 at 9:03 am GMT

The US 500 stock index has pulled back somewhat after touching an all-time high of 3,020 in the prior week, reversing back below the red Tenkan-sen line. Momentum indicators now suggest that the market sentiment might get worse before getting better as the RSI is approaching the neutral area again and the MACD dived below its trigger line in the daily timeframe. Should bearish dynamics dominate in the very short-term, the market might revisit the 2,964 support and move even [..]

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Technical Analysis – US dollar index surpasses 50-day SMA, suggesting more gains

Posted on July 17, 2019 at 9:07 am GMT

The US dollar index had a successful daily close above the 50-simple moving average (SMA) suggesting remarkable gains, during yesterday’s trading session. The stochastic oscillator is moving higher after it completed a bullish crossover within the %K and %D lines, while the MACD is trying to strengthen its bullish momentum above zero line. Should the price stretch north and clear the 97.20 resistance, the two-year high of 98.25 could come in focus. If the buying interest extends, attention could then [..]

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Technical Analysis – JP225 index finds support on uptrend line and 50-day SMA; sideways move in near term

Posted on July 15, 2019 at 8:31 am GMT

The JP225 stock index has been ascending since June 4, from the low of 20,276 to a two-month high of 21,796. The index gapped upwards on July 1, only to shift to a two-week trading range with lower and upper boundaries of 21,451 and 21,796 respectively. The index currently finds support on the 50-day simple moving average (SMA), coupled with the uptrend line coming from the low of 20,276. The ADX confirms the absence of the trend, whereas other indicators [..]

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