Indices

Technical Analysis – US 500 index unlocks 3,000 level, hits new record highs

Posted on July 11, 2019 at 8:41 am GMT

The US 500 stock index finally topped slightly above the 3,000 level and at new record highs after being unable to pierce the mark last week. According to the RSI and the MACD, the market could attract some buying in the short-term before turning lower as the former has yet to enter overbought territory and the latter seems to be regaining positive momentum above its red signal line. On the upside, the price could settle for the 3,100 number which is the [..]

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Technical Analysis – UK 100 index decreases below 11-month high

Posted on July 8, 2019 at 12:08 pm GMT

The UK 100 stock index (FTSE 100) has advanced considerably towards a fresh 11-month high of 7622, however, during the last couple of days is retreating, testing the 7530 support level. The stochastic oscillator is confirming this short-term view, as it is heading south below the overbought territory. Also, the RSI is pointing down following the bounce off the 70 level in the previous sessions. In case of a bearish correction the market might revisit the 23.6% Fibonacci level of the [..]

Technical Analysis – US 500 stock index records new all-time highs close to 3,000

Posted on July 4, 2019 at 8:34 am GMT

US 500 index showed a notable advance yesterday, completing a fresh all-time high around 3,000, but it ended the day in red. The advance of the trigger line above the MACD and the bullish momentum in the indicator suggests there is some more room for improvement, while the RSI indicator seems to be flat near the overbought zone, signaling a possible overstretched market. Also, the 50- and 200-day simple moving averages (SMAs) are moving sideways despite the latest upside run. [..]

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Technical Analysis – US dollar index struggles below 200-SMA; long-term upward channel intact

Posted on July 2, 2019 at 12:09 pm GMT

The US dollar index has gained some remarkable ground after the climb above the 23.6% Fibonacci retracement level of the upward movement from 88.10 to 98.25 near 95.84. Currently, the index is failing to surpass the 200-day simple moving average (SMA), which coincides with the 96.40 resistance, flirting with a possible drop. However, the stochastic oscillator is fluctuating in the overbought mark and the MACD is recording a bullish crossover with its trigger line in the negative zone. Should the price [..]

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Technical Analysis – US 30 index flirts with new record peak

Posted on July 1, 2019 at 12:44 pm GMT

The US 30 stock index is currently challenging June’s peak of 26,907 but the positive momentum in the MACD, which trends above its trigger line, signals that a new record high could be achievable as well in the next few sessions. Still, the RSI warns that the market is approaching overbought territory and hence downside corrections cannot be ruled out. Jumping above the 26,907 resistance level, the bulls would aim to test the uncharted area between 27,000 and 27,500. Otherwise, if the market [..]

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Technical Analysis – US 500 index may pick up steam above all-time high

Posted on June 26, 2019 at 11:59 am GMT

The US 500 index retreated below the all-time high of 2964 in the previous couple of days, testing the red Tenkan-sen line in the daily timeframe. The 200-simple moving average (SMAs) remains flat, failing to confirm the long-term bullish picture. The MACD is extending is bullish run with weak momentum while the RSI is pointing north in the positive zone. A closing price above the all-time high (2964) could trigger another bullish phase more likely towards the 3000 psychological mark. Should [..]

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Technical Analysis – Dollar Index futures scope for further losses but short-term downside softer

Posted on June 24, 2019 at 1:39 pm GMT

The position in the US dollar index futures is on the back foot for the fourth consecutive day and near a three-month low of 95.47 following the rejection from the 20- and the 50-day simple moving averages (SMA). The price has so far fallen below the 200-day SMA, the previous low of 96 and the 50% Fibonacci of the 93.56-98.23 upleg, putting the January upward pattern into question. In the short-term, downside pressure may persist but potentially at a softer pace given that Stochastics [..]

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Technical Analysis – US30 index returns to record highs

Posted on June 20, 2019 at 2:54 pm GMT

US30 stock index (Dow Jones) is currently flirting with May’s peak of 26,707 but the positive momentum in the MACD, which trends above its red signal line, suggests that September’s record high of 26,951 could be achievable as well. Still, the RSI warns that the market is approaching overbought territory and hence downside corrections cannot be ruled out. Clearing the 26,951 ceiling, the bulls would aim to test the uncharted area between 27,000 and 27,500. Otherwise, if the market weakens [..]

Technical Analysis – US 500 stock index may chart another pick up

Posted on June 14, 2019 at 9:10 am GMT

US 500 index showed little change after opening the week with a small positive gap above its 50-day simple moving average (SMA). The distance between the MACD and its red signal line and the bullish momentum in the indicator suggests there is some room for improvement, but in the very short-term a consolidation phase may follow if the fast RSI continues to grind sideways. A closing price above the 2,909-2,936 area and therefore on top of the Ichimoku cloud could trigger [..]

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Technical Analysis – US Dollar Index rebounds on ascending line; gains are expected

Posted on June 13, 2019 at 12:29 pm GMT

The US dollar index found a strong support obstacle on the long-term ascending trend line once again, sending the price higher. The short-term bias is tilted to the upside as the stochastic oscillator is approaching the overbought area with stronger momentum than before in the daily timeframe. If the index moves higher, the 50-day simple moving average (SMA) currently at 97.25 and the 97.40 resistance level could attract traders’ attention before the price hit the two-year high of 98.25. Any violation above this hurdle could [..]

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