Weekly Technical Analysis
Start your week by identifying the key price levels and trends.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
*KEY
Trend is set by the slope of the VWAP over 50 periods
Phase is determined by the current price relative to the VWAP (20) level (above or below)
Support & Resistance are set by the StdDev #2 Lower and Upper respectively.
Momentum is determined by the RSI level (70 as overbought and under 30 as oversold).
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Analysis
Germany 40
Germany 40 remains bullish in an impulsive phase. The current price is 19,505, positioned above the VWAP (20) of 19,136. Support is now at 19,287, while resistance stands at 19,695. The RSI is 59, indicating ongoing bullish momentum but with slight moderation.
UK 100
The UK 100 is still neutral but the latest push to the top of the range suggests a possible breakout is imminent. The current price is 8,335, sitting just above the VWAP (20) of 8,281. Support is identified at 8,183, while resistance is at 8,380. The RSI is 53, reflecting a balanced momentum with no strong directional bias.
Wall Street
Wall Street remains bullish, in an impulsive phase as price pushes into new record highs. The price is currently 43,052, trading above the VWAP (20) of 42,444. Support is at 41,511, and resistance is at 43,377. The RSI is at 61, maintaining bullish momentum.
Brent Crude
Brent Crude has flipped into a neutral trend with no clear direction. The price is 7,359, slightly below the VWAP (20) of 7,550. Support is at 7,022, while resistance stands at 8,077. The RSI is 45, signalling a lack of clear momentum.
Gold
Gold remains bullish in an impulsive phase as the price hits new all-time-highs. The current price is 2,726, above the VWAP (20) of 2,659. Support is located at 2,595, and resistance is at 2,725. The RSI is at 73, indicating strong bullish momentum and a potential for overbought conditions.
EUR/USD
EUR/USD stays bearish in an impulsive phase that gathered steam over the past week but could be getting over extended. The price is currently 1.0835, below the VWAP (20) of 1.0962. Support is at 1.0771, while resistance stands at 1.1153. The RSI is 29, reflecting strong bearish momentum and an oversold market.
GBP/USD
GBP/USD is neutral having broken its uptrend but not made major downward progress either, consolidating at a price of 1.3001, slightly below the VWAP (20) of 1.3122. Support is at 1.2890, and resistance is at 1.3355. The RSI is 37, indicating weaker momentum and a potential for further downside.
USD/JPY
USD/JPY remains bullish in an impulsive phase. The current price is 150.21, over the big 150 threshold and well above the VWAP (20) of 147.83. Support is at 143.25, and resistance is at 152.41. The RSI is 64, reflecting strong bullish momentum.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
*KEY
Trend is set by the slope of the VWAP over 50 periods
Phase is determined by the current price relative to the VWAP (20) level (above or below)
Support & Resistance are set by the StdDev #2 Lower and Upper respectively.
Momentum is determined by the RSI level (70 as overbought and under 30 as oversold).
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Analysis
Germany 40
Germany 40 remains bullish in an impulsive phase. The current price is 19,505, positioned above the VWAP (20) of 19,136. Support is now at 19,287, while resistance stands at 19,695. The RSI is 59, indicating ongoing bullish momentum but with slight moderation.
UK 100
The UK 100 is still neutral but the latest push to the top of the range suggests a possible breakout is imminent. The current price is 8,335, sitting just above the VWAP (20) of 8,281. Support is identified at 8,183, while resistance is at 8,380. The RSI is 53, reflecting a balanced momentum with no strong directional bias.
Wall Street
Wall Street remains bullish, in an impulsive phase as price pushes into new record highs. The price is currently 43,052, trading above the VWAP (20) of 42,444. Support is at 41,511, and resistance is at 43,377. The RSI is at 61, maintaining bullish momentum.
Brent Crude
Brent Crude has flipped into a neutral trend with no clear direction. The price is 7,359, slightly below the VWAP (20) of 7,550. Support is at 7,022, while resistance stands at 8,077. The RSI is 45, signalling a lack of clear momentum.
Gold
Gold remains bullish in an impulsive phase as the price hits new all-time-highs. The current price is 2,726, above the VWAP (20) of 2,659. Support is located at 2,595, and resistance is at 2,725. The RSI is at 73, indicating strong bullish momentum and a potential for overbought conditions.
EUR/USD
EUR/USD stays bearish in an impulsive phase that gathered steam over the past week but could be getting over extended. The price is currently 1.0835, below the VWAP (20) of 1.0962. Support is at 1.0771, while resistance stands at 1.1153. The RSI is 29, reflecting strong bearish momentum and an oversold market.
GBP/USD
GBP/USD is neutral having broken its uptrend but not made major downward progress either, consolidating at a price of 1.3001, slightly below the VWAP (20) of 1.3122. Support is at 1.2890, and resistance is at 1.3355. The RSI is 37, indicating weaker momentum and a potential for further downside.
USD/JPY
USD/JPY remains bullish in an impulsive phase. The current price is 150.21, over the big 150 threshold and well above the VWAP (20) of 147.83. Support is at 143.25, and resistance is at 152.41. The RSI is 64, reflecting strong bullish momentum.
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