INDICES

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Technical Analysis – UK100 stock index holds onto bullish bias but is losing momentum

Posted on September 19, 2019 at 2:57 pm GMT

UK100 stock index has been mostly on the sidelines so far this month, bouncing back and forth between the 38.2% and 50% Fibonacci retracement levels of the downleg from 7,729 to 7,018. Interestingly, though, the price continues to keep intact the rebound from the 6-month low of 7,018 while holding above the Ichimoku cloud. The momentum indicators are currently suggesting that there is some upside pressure in store as the RSI is comfortably above its 50 neutral mark. Yet, the gradual improvement in the MACD indicates [..]

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Technical Analysis – US30 stock index flirts with uptrend line and 50-SMA

Posted on September 17, 2019 at 3:27 pm GMT

US30 stock index pierced below the uptrend line drawn from August 26 but found support from the 50-period simple moving average (SMA) around the 27,000 handle. The index has been in a two-week uptrend, during which it plotted a seven-week high of 27,312 from where the price inched down to test the uptrend line. The Ichimoku lines, Tenkan-sen and Kijun-sen, completed a bearish cross but signal no clear direction. The Chikou span is declining with the price, warning of a [..]

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Technical Analysis – CHI50 index set for more upside; strong resistance around 14,060

Posted on September 13, 2019 at 12:34 pm GMT

China’s 50 stock index (CHI50)  made a U-turn near the 50-period simple moving average (SMA) in the four-hour chart and is building momentum to reclaim strong resistance around 14,060. According to the RSI and the MACD there is more upside in store as both indicators point upwards in the bullish area, while in Ichimoku indicators, the red Tenkan-sen is ready to surpass the blue Kijun-sen line, embracing the positive spirit as well. It is also worth mentioning that the RSI [..]

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Technical Analysis – JP225 index fiercely rallies, recouping recent losses

Posted on September 12, 2019 at 3:40 pm GMT

Japans’ 225 stock index returned to the levels where losses began one-and-a-half-months ago. The index plotted gains starting on September 2, after intensely rallying out of a sideways market that commenced on August 6. Despite the upward slopes in the 50- and 100-period simple moving averages (SMAs) -reflecting a positive bigger picture-, as well as their bullish cross of the 200-period SMA, the bears are attempting to reverse the price down. Although the MACD has dropped below its red trigger [..]

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Technical Analysis – GER30 index completes another bullish week near overbought zone

Posted on September 12, 2019 at 2:12 pm GMT

GER30 stock index had two constructive weeks and is completing another one above the Ichimoku cloud and its simple moving averages (SMAs) in the daily chart. Technically, the market may run for more gains in the short-term as the MACD and the RSI strengthen to the upside in the positive area. The latter, however, should warrant some caution for bullish traders as the indicator is ready to crawl above its 70 overbought mark. Above the 12,450 resistance level, the market [..]

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Technical Analysis – US500 index exits neutral zone to look at 3,000

Posted on September 9, 2019 at 12:03 pm GMT

The US 500 stock index (cash) is eyeing the 3,000 mark again after the violation of the tough 2,940 resistance-turned-support level put the market back into the bullish game. Yet, traders could reduce buying exposures in the short-term as the RSI signals overbought conditions for the fourth consecutive day and the MACD loses momentum below its red signal line. It is also worth noting that the 50- and the 200-period simple moving averages in the four-hour chart have already established a golden cross [..]

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Technical Analysis – GER30 index gains ground above 200-SMA; looks overbought

Posted on September 5, 2019 at 11:46 am GMT

The GER30 index stepped on the 200-period simple moving average (SMA) on Wednesday and accelerated to one-month highs. While the RSI’s peak in the overbought territory suggests that the rally is overstretched and is time for a downside correction, the positive momentum in the MACD and the upward direction in the red Tenkan-sen line signals that any weakness could be temporary.  Even more encouraging is the bullish cross between the 20- and the 200-period SMAs that foresees the continuation of [..]

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Technical Analysis – US dollar index futures spike above 99.00, enter overbought waters

Posted on September 2, 2019 at 4:33 pm GMT

The clear upside direction in the RSI and the positive slope in the Stochastics are framing a bullish picture for the short-term, though with the indicators entering overbought waters, the positive momentum could soften soon. Friday’s closing price above the upper Bollinger band is another indication that room for improvement could be limited. In case of a downside reversal, the 98.00 barrier could act as immediate support before last week’s trough of 97.50 grabs attention. Another step lower could bring the lower Bollinger band, currently [..]

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Technical Analysis – GER30 index consolidates above the 11,338 level; SMAs converge

Posted on August 28, 2019 at 3:31 pm GMT

The GER30 index has consolidated in a sideways market in the last 20 sessions, as the 50-period simple moving average (SMA) has flattened and blended with the 100-period SMA. The index has currently moved into the Ichimoku cloud, trading around the June low of 11,607. Directional momentum seems to have evaporated, something also reflected by the indicators. The MACD is flat at the zero line, combined with its red trigger line, while the RSI hovers at the 50-level. Furthermore, the [..]

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Technical Analysis – US30 index takes back losses; 50-, 100-SMAs stop bullish move

Posted on August 26, 2019 at 3:54 pm GMT

US30 stock index adopted a sideways behavior after falling from the 27,403 all-time-high to a two-month low of 25,077. It is noteworthy to point out that despite the breaches from the price, the 200-, 100- and 50-period simple moving averages (SMAs) still maintain the bearish picture. In momentum indicators, both the RSI and the MACD are in bearish territory, suggesting that a rekindled negative move cannot be ruled out; the RSI deflected off the 50-level and heads down, whilst the MACD is below [..]

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