Indices

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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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Technical Analysis – US 500 index heavily negative after fiscal stimulus ideas; nears 2018 low

Posted on March 17, 2020 at 9:09 am GMT

The US 500 stock index (cash) crashed by another 11% on Tuesday as the US fiscal stimulus proposals seem to be spreading panic rather than reassuring investors. The index fell as low as 2,362, violating the 200-period simple moving average (SMA) on the weekly chart for the first time since 2011. Still, on the positive side it managed to halt the sell-off near the 2018 trough, keeping its long-term uptrend safe for now. On the daily chart, technical signals are not encouraging either. Although [..]

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Technical Analysis – UK 100 index in a downfall since end February; reaches multi-year low

Posted on March 16, 2020 at 11:21 am GMT

The UK 100 index (Cash) has been in a strong negative rollercoaster since the end of February, dropping towards a multi-year low of 4,838. The short-term technical indicators are bearish and point to more weakness in the market. The MACD is heading south below its trigger and zero lines, while the RSI is pointing down in the oversold territory. The next target is the fresh low of 4,838. At this stage the market could extend its aggressive bearish sentiment towards [..]

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