Weekly Technical Analysis 18/12/2023
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.
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Germany 40
UK 100
Wall Street
Brent Crude Oil
Gold
EUR/USD
GBP/USD
USD/JPY
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
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Germany 40
- The Germany 40 shows a bullish trend, near record highs with a rising VWAP at 16,535.
- Current support is found at 15,927, with resistance seen at a higher 17,142.
- The RSI is at 72, indicating strong bullish momentum but also in overbought territory.
UK 100
- The UK 100 remains in an uptrend, marked by price above its VWAP of 7,533.
- Support is established at 7,417, while resistance is anticipated at 7,649.
- An RSI of 61 suggests continued bullish sentiment without immediate overbought concerns.
Wall Street
- Wall Street's bullish stance is confirmed by price above the VWAP of 36,217.
- The index is supported at 34,892, with resistance far above at 37,344.
- A high RSI of 87 signals very strong upward momentum, although it suggests the market may be overextended.
Brent Crude Oil
- Brent Crude oil exhibits a bearish trend, with price below its VWAP of 72.56.
- Support is seen at 77.68, and resistance is at 82.82.
- The RSI stands at 45, indicating a bearish but not oversold market condition.
Gold
- Gold is on a bullish trajectory, with price above its VWAP calculated at 2,047.
- It finds support at 1,985 and may face resistance at 2,109.
- The RSI at 52 suggests a neutral to slightly bullish stance with room for upward movement.
EUR/USD
- EUR/USD pair shows a bullish trend with price above the VWAP at 1.0869.
- The support level is quite near at 1.0708, indicating potential for a strong base, while resistance is at 1.1032.
- With an RSI of 55, the currency pair shows moderate bullish momentum.
GBP/USD
- The GBP/USD is trending upwards, with price over its VWAP of 1.2629.
- The support is set at 1.2500, and resistance is slightly higher at 1.2758.
- The RSI is at 57, pointing to bullish momentum without immediate overbought concern.
USD/JPY
- USD/JPY is experiencing a bearish trend, well under its VWAP of 145.68.
- Support appears firm at 141.20, while resistance is much higher at 150.17.
- An RSI of 31 indicates the potential for a bullish reversal as it approaches oversold levels.
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