Weekly Technical Analysis
Technical Analysis Weekly 04.04.2022
Start your week by identifying the key price levels and trends with an analysis of the most popular markets, including indices, commodities & forex, from the SpreadEx Research team.
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Wall Street (4 hours)
The uptrend is still intact while above the Mar 27 low but the failure to hold the prior highs as support shows the trend weakening.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
34,350 |
34,550 |
35,300 |
UK 100 (4 hours)
Price has paused in a short-term channel at resistance from the Feb 25 peak. The trend is higher but a pullback under the 50 SMA looks likely.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
7420 |
7500 |
7630 |
Germany 40 (4 hours)
A new high was made with further gains above the 200 SMA but the 50 SMA has flattened and price failing to rebound off the Mar 16 and 23 peaks show upside momentum slowing.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
14,200 |
14,600 |
15,000 |
Gold (4 hours)
Gold slid under its 200 SMA but rebounded off the March 17 low, leaving it in a sideways range under 1950. Whether near term support at 1920 holds may determine which way the range breaks.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1900 |
1920 |
1965 |
Silver (4 hours)
Silver is trading sideways but has rolled under its 200 SMA for a second time after failing to break the 50 SMA. A break over the 50 SMA & the near term resistance at 2530 is needed to reverse bearish momentum.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
2390 |
2470 |
2530 |
Brent Crude (4 hours)
The Brent price did drop back under the 200 SMA but has stabilised after the second break, possibly setting up another rally over the 50 DMA in generally sideways price action.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
97 |
113 |
119 |
GBP/USD (4 hours)
The pound has stabilised around 1.31, so far avoiding a re-test of the 1.30 low. A break under 1.305 or above 1.32 is needed to determine the next trend.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1.30 |
1.31 |
1.32 |
EUR/USD (4 hours)
After its rally to new monthly highs and over the 200 SMA, the euro faded quickly back into its former trading range. A drop under 1.095 implies the long term downtrend has resumed.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1.08 |
1.095 |
1.113 |
USD/JPY (4 hours)
The dollar-yen price has dropped back sharply from multi-decade resistance at 125 but since made it back over the 50 SMA in what could tee up a test of the highs.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
120 |
122.5 |
125 |
Australia 200 (Daily)
The Aus 200 index is testing all-time highs after a narrow pullback under its former high from 2020 at 7000. A breakout could open up a major new uptrend.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
7000 |
7540 |
8000 |
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