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 direction is set by the slope of the VWAP
Trend phase is determined by the current price relative to the VWAP (20) level
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 remains in a bullish trend and has been correcting through time rather than price, with the price increasing slightly to 18,775, still above the VWAP of 18,622. Support and resistance levels have adjusted to 18,325 and 18,920, respectively. The RSI has decreased slightly to 62, indicating a slight moderation in sentiment compared to the previous report.
UK 100 remains in a bullish trend but has transitioned into a corrective phase, with the price decreasing slightly to 8,320, now below the previous VWAP of 8,383. Support has adjusted to 8,271, while resistance has decreased to 8,495. The RSI has decreased significantly to 53, reflecting a reduction in bullish sentiment compared to the previous report.
Wall Street remains in a bullish trend but has moved into a corrective phase, with the price decreasing notably to 39,083, now below the previous VWAP of 39,473 - indicating a rising chance of a full bearish reversal. Support and resistance levels have adjusted to 38,689 and 40,256, respectively. The RSI has decreased significantly to 47, signalling a reduction in bullish momentum compared to the previous report.
Brent Crude remains in a bearish trend and continues in a corrective phase, with the price decreasing slightly to 82.99, now slightly above the previous VWAP of 82.72. Support has adjusted lower to 81.23, while resistance has decreased to 84.21. The RSI has decreased slightly to 46, indicating a slight moderation in bearish sentiment compared to the previous report.
Gold remains in a bullish trend but has shifted into a corrective phase, with the price decreasing to 2,343, now below the previous VWAP of 2,361. Support has adjusted higher to 2,289, while resistance has decreased to 2,434. The RSI has decreased significantly to 47, indicating a weakening of bullish sentiment compared to the previous report.
EUR/USD remains in a bullish trend and continues in an impulsive phase, with the price slightly decreasing to 1.0877, now above the previous VWAP of 1.0821. Support has adjusted higher to 1.0728, while resistance has increased to 1.0914. The RSI has decreased slightly to 63, indicating a slight moderation in bullish pressure compared to the previous report.
GBP/USD remains in a bullish trend and continues in an impulsive phase, with the price increasing to 1.2775, now above the previous VWAP of 1.2637. Support has adjusted higher to 1.2443, and resistance has increased to 1.2831. The RSI has increased significantly to 71, indicating a strengthening of bullish sentiment compared to the previous report.
USD/JPY has shifted in a neutral phase with the VWAP now more-or-less flat since the big reversal from over 160 and the price consolidating around the VWAP, though more recently increasing to 156.83, now above the previous VWAP of 155.82. Support has adjusted higher to 154.10, while resistance has increased to 157.54. The RSI has increased to 59, reflecting a strengthening of bullish sentiment compared to the previous report.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
*KEY
Trend direction is set by the slope of the VWAP
Trend phase is determined by the current price relative to the VWAP (20) level
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).
-----------------------------------------------------------
Analysis
Germany 40 remains in a bullish trend and has been correcting through time rather than price, with the price increasing slightly to 18,775, still above the VWAP of 18,622. Support and resistance levels have adjusted to 18,325 and 18,920, respectively. The RSI has decreased slightly to 62, indicating a slight moderation in sentiment compared to the previous report.
UK 100 remains in a bullish trend but has transitioned into a corrective phase, with the price decreasing slightly to 8,320, now below the previous VWAP of 8,383. Support has adjusted to 8,271, while resistance has decreased to 8,495. The RSI has decreased significantly to 53, reflecting a reduction in bullish sentiment compared to the previous report.
Wall Street remains in a bullish trend but has moved into a corrective phase, with the price decreasing notably to 39,083, now below the previous VWAP of 39,473 - indicating a rising chance of a full bearish reversal. Support and resistance levels have adjusted to 38,689 and 40,256, respectively. The RSI has decreased significantly to 47, signalling a reduction in bullish momentum compared to the previous report.
Brent Crude remains in a bearish trend and continues in a corrective phase, with the price decreasing slightly to 82.99, now slightly above the previous VWAP of 82.72. Support has adjusted lower to 81.23, while resistance has decreased to 84.21. The RSI has decreased slightly to 46, indicating a slight moderation in bearish sentiment compared to the previous report.
Gold remains in a bullish trend but has shifted into a corrective phase, with the price decreasing to 2,343, now below the previous VWAP of 2,361. Support has adjusted higher to 2,289, while resistance has decreased to 2,434. The RSI has decreased significantly to 47, indicating a weakening of bullish sentiment compared to the previous report.
EUR/USD remains in a bullish trend and continues in an impulsive phase, with the price slightly decreasing to 1.0877, now above the previous VWAP of 1.0821. Support has adjusted higher to 1.0728, while resistance has increased to 1.0914. The RSI has decreased slightly to 63, indicating a slight moderation in bullish pressure compared to the previous report.
GBP/USD remains in a bullish trend and continues in an impulsive phase, with the price increasing to 1.2775, now above the previous VWAP of 1.2637. Support has adjusted higher to 1.2443, and resistance has increased to 1.2831. The RSI has increased significantly to 71, indicating a strengthening of bullish sentiment compared to the previous report.
USD/JPY has shifted in a neutral phase with the VWAP now more-or-less flat since the big reversal from over 160 and the price consolidating around the VWAP, though more recently increasing to 156.83, now above the previous VWAP of 155.82. Support has adjusted higher to 154.10, while resistance has increased to 157.54. The RSI has increased to 59, reflecting a strengthening of bullish sentiment compared to the previous report.
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