INDICES

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Technical Analysis – US 500 index achieves new all-time high; holds in upward sloping channel

Posted on September 21, 2018 at 11:39 am GMT

The US 500 index reached a fresh all-time high of 2939.20 earlier today and has been stuck in a channel titled to the upside since April 2. The bullish picture seems to be overstretched as the RSI indicator is flattening near the 70 level, however, the MACD oscillator posted a bullish crossover with its trigger line in the positive zone. More upside movements and a surpass above the aforementioned all-time high could challenge the next strong psychological level of 3000. [..]

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Technical Analysis – UK 100 index turns slightly higher; indicators confirm bullish bias

Posted on September 20, 2018 at 1:28 pm GMT

The UK 100 index jumped above the 50.0% Fibonacci retracement level of the upleg from 6760 to 7905, around 7333, during Wednesday’s session. Currently, the price remains slightly above its opening level, however, the technical indicators are standing in the negative zone. The RSI is edging slightly higher below 50 level and the MACD has jumped above its trigger line. Should the market extend gains in the short-term, resistance could be met at the 38.2% Fibonacci retracement level of the upleg from 6760 to [..]

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Technical Analysis – Germany 30 index looking bearish in the short- and medium-term

Posted on September 17, 2018 at 2:36 pm GMT

The Germany 30 index lost considerable ground after touching 12,597.80 in late August, this being its highest since August 10. Specifically, it is currently trading roughly 500 points below that peak. The Tenkan- and Kijun-sen lines are negatively aligned, projecting a bearish short-term picture for the index. Immediate support to losses may come around the current level of the Tenkan-sen at 12,045.85. The zone around this includes the 12,000 handle that may be of psychological importance. Further below, the region [..]

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Technical Analysis – EU 50 index turns bearish in short-term; lacks direction in long-term

Posted on September 11, 2018 at 12:44 pm GMT

The EU 50 stock index has declined considerably after touching the 3460 resistance level, recording two straight bearish weeks. On Friday, the price posted a five-month low of 3274.70, while it is currently not far above that nadir. The momentum indicators are supportive of the bearish picture, with the RSI standing below the threshold of 50 and approaching the 30 oversold mark. Moreover, the MACD oscillator is falling sharply below the trigger and zero lines. Immediate support is coming from the 3274.70 bottom, while an [..]

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Technical Analysis – US 500 index near-term momentum turns south; still bullish in the medium-term

Posted on September 5, 2018 at 1:48 pm GMT

The US 500 index has declined after touching an all-time high of 2,916.50 on August 29. Still, the benchmark continues to trade relatively close to its record peak. The RSI has reversed lower after entering overbought territory last week and continues to head down, supporting the view that near-term momentum has turned negative. The stochastics are also projecting a bearish picture in the very short-term: the %K and %D lines are negatively aligned and are moving lower. A move back [..]

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Technical Analysis – Japan 225 index creates downside rally; could weaken further in short term

Posted on September 5, 2018 at 12:33 pm GMT

Japan 225 index has recorded a stunning downward rally following the touch on the 23116 resistance level in the prior week and is moving towards the moving averages in the daily chart. The technical indicators, continue to send bearish signals, suggesting that the softness in the market is not over yet. The RSI indicator is in progress to drop below the threshold of 50, while the MACD oscillator posted a bearish crossover with its trigger line. Should prices decline further and fall [..]

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Technical Analysis – US 30 index close to 6-month high; positive momentum weakens

Posted on August 29, 2018 at 10:23 am GMT

The US 30 index (Dow Jones Industrial Average) touched a fresh six-month high of 26,147.50 during Tuesday’s trading, while it is currently trading not far below this peak. The RSI is comfortably in bullish territory above 50, though it has eased somewhat, pointing to weakening positive momentum in the short-term. Additionally, notice that the indicator is marginally above the 70 overbought level. A drop in the index could meet support around the 26,000 handle which may carry psychological significance. Steeper [..]

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Technical Analysis – US100 stock index rallies to fresh record highs, near overbought territory

Posted on August 28, 2018 at 11:48 am GMT

The US100 stock index (NASDAQ 100) continues to rise above the Ichimoku cloud, remaining inside a bullish channel over the past four months, stretching its upward pattern to a fresh record high of 7,581.70 on Tuesday. According to the MACD, positive momentum could push for further gains in the short-term as the indicator picks up steam above its red signal line. The RSI is also advancing, though, it is relatively close to the 70 overbought threshold; negative corrections cannot be excluded should it move above 70. In the positive [..]

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Technical Analysis – CHI50 stock index flirts with long-term downtrend line; neutral to bullish in short-term

Posted on August 27, 2018 at 10:50 am GMT

China 50 stock index (CHI50) resumed its bullish mode after it failed to break a strong support at the 18-month trough of 10,826 first reached in early July, rising back above the 11,000 handle. Momentum indicators have improved as well, with the RSI surpassing slightly the 50 mark and the MACD increasing strength to the upside and above its red signal line. However, these could be considered weak bullish signals for the short-term given that both indicators hold near their neutral thresholds [..]

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Technical Analysis – US Dollar Index heads lower but remains in upward pattern

Posted on August 21, 2018 at 1:13 pm GMT

The US Dollar Index has declined considerably over the last three days following the bounce off the more than one-year high of 96.85, reached on August 15. The sharp sell-off, especially in the past sessions, has shifted the near-term bias from positive to negative. However, the price moved up after challenging the 20-day simple moving average (SMA) today, recovering on a significant part of its intraday losses. The momentum indicators are supportive of the bearish picture, with the RSI falling to approach the 50 level, while the [..]

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