Technical Analysis

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Technical analysis – Tesla stock clears moving averages, cautiously positive in medium-term

Posted on January 18, 2019 at 1:07 pm GMT

Tesla’s stock crossed back above both its 50- and 200-day simple moving averages (SMAs) in recent sessions and is also trading above an uptrend line drawn from the lows of October. The combination suggests the outlook has turned cautiously positive. For the picture to turn decisively positive, it may require a higher high on the daily chart, namely a clear break above 379. Short-term momentum oscillators support the notion. The RSI is flattening slightly above its neutral level, while the [..]

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Technical Analysis – EURGBP pares some losses after strong sell off in near term

Posted on January 18, 2019 at 12:36 pm GMT

EURGBP has been erasing the strong bearish rally that was created the previous six consecutive days, sending prices towards a new two-month trough of 0.8758. The stochastic oscillator is suggesting a positive retracement as the %K line jumped above the %D line creating a bullish crossover in the daily timeframe. An upside rally in the pair and a successful close above the 0.8810 barrier may retest the 0.8930 resistance barrier. Even higher, the price could test the 40- and then [..]

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Technical Analysis – Johnson & Johnson stock price struggles within tight Bollinger band; bullish in long term

Posted on January 18, 2019 at 11:06 am GMT

Johnson & Johnson stock price has been squeezed within the Bollinger bands over the last couple of weeks in the daily timeframe, failing to pare some of the losses that were posted in mid-December. From the technical point of view, the indicators seem to be flat. The RSI is standing below 50 level with weak momentum, while the ROC is moving sideways near the zero line in the short-term. Upside moves may drive the price action higher towards the immediate resistance of 130.45 before touching the [..]

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Technical analysis – US 30 index crosses above 50-day SMA, neutral in short-term

Posted on January 18, 2019 at 10:57 am GMT

The US 30 index staged a major recovery in recent weeks, after touching an 18-month low on December 26. Price action is now taking place back above the 50-day simple moving average (SMA), which suggests the near-term outlook has shifted back to neutral, from negative previously. Further advances in the index could encounter immediate resistance near the 24,830 zone, defined by the peaks of December 12. An upside break could open the way for a test of the 200-day SMA [..]

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Technical Analysis – GBPJPY hovers around 1-month high; positive in short term

Posted on January 18, 2019 at 9:16 am GMT

GBPJPY has been advancing considerably for three days in a row, reaching a fresh one-month high of 142.20 during yesterday’s trading session. The price jumped above the strong obstacle of the 50.0% Fibonacci of 141 of the downleg from 149.50 to 132.50, while it also surpassed the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. Technically, the RSI indicator is trying to enter into the overbought zone, but its momentum is slowing down, while the MACD oscillator holds above trigger line and hovers in the positive [..]

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Technical Analysis – USDCAD finds significant resistance near 23.6% Fibonacci region

Posted on January 18, 2019 at 7:31 am GMT

USDCAD has been struggling below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3663, around 1.3285 over the last seven days, following the bearish rally from the 19-month high of 1.3663. The price also remains below the simple moving averages (SMAs) which are turning lower, signaling a bearish crossover in the near future. Looking at the technical indicators, in the daily timeframe, they seem to be in agreement with the latest movement in the very short-term. The RSI is [..]

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Technical Analysis – GER30 stock index en route to third weekly gain

Posted on January 17, 2019 at 2:51 pm GMT

The German 30 stock index (DAX 30) has been on the rise since the day it dropped to a two-year low of 10,276 and is now set to register its third weekly gain slightly above the 20-day simple moving average. The short-term bias looks currently neutral to bullish as the RSI moves along the 50 line and the MACD keeps strengthening above its red signal line and towards zero. On the upside, the bulls could push to break the 11,000 support-turned-resistance level which [..]

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Technical Analysis – Silver retreats after bullish movement from double bottom

Posted on January 17, 2019 at 2:03 pm GMT

Silver has been moving sideways since the price hit the six-month high of 15.87 on January 4. The neutral to bearish picture in the very short-term looks to last for a while longer after prices failed to stand near the aforementioned high. Technically, in the daily timeframe, the RSI lies below the 70 level and is falling, while the MACD oscillator printed a bearish cross with its trigger line in the positive area as well. Looking at the bigger picture the commodity [..]

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Technical Analysis – ETHUSD trades below SMAs with weak momentum

Posted on January 17, 2019 at 12:49 pm GMT

ETHUSD is slowing down below the moving averages in the 4-hour chart, while according to the technical indicators the market seems to be neutral. The RSI keeps developing below 50 with weak momentum and the MACD oscillator is flattening above its trigger line but below the zero level. In case of a move lower, the price could challenge the 23.6% Fibonacci retracement level of the negative movement from 221 to 80, around 113.10. This area could be difficult for the bears to overcome initially, but if there is a [..]

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Technical Analysis – NZDUSD selling interest in progress; hits one-week low

Posted on January 17, 2019 at 9:15 am GMT

NZDUSD is continuing this week’s sell off with strong momentum, reaching a one-week low around 0.6730 and at the same time confirming the start of a bearish movement. The short-term bias looks negative as the MACD keeps losing ground below its red trigger line, while the RSI seems to be making its way down beneath its 50 neutral mark, moving towards the oversold territory. The 0.6705 could be a critical level for steeper bearish actions if the pair continues the negative tendency. Also, the 0.6670 could attract some [..]

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