Weekly Technical Analysis
Technical Analysis Weekly 07.03.2022
Start your week by identifying the key price levels and trends with analysis of the most popular markets, including indices, commodities & forex, from the SpreadEx Research team.
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Wall Street (4 hours)
Price is back at the bottom of its 7-day old trading range, eyeing a possible return to YTD lows.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Down |
32,300 |
33,100 |
34,100 |
UK 100 (4 hours)
Price has hit new YTD lows after taking out support from the Feb 28 low and has since dropped well under psychological support from the 7000 level.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Down |
6500 |
7000 |
7180 |
Germany 40 (4 hours)
Price has tumbled below its pre-pandemic high at 13,800 which was temporary support and is now back under 13,000.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Down |
12,000 |
13,800 |
14,000 |
Gold (4 hours)
Price has gapped over the Feb 24 spike high to reach the psychological 2000 level, where it saw light profit-taking.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
1920 |
1950 |
2050 |
Silver (4 hours)
Price has broken over resistance at 25.70 to reach its highest since July.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
25.2 |
25.7 |
27 |
Brent Crude (4 hours)
Price has spiked to 138 after taking out the previous high at 120. The surge in momentum may indicate a blow off top, though all-time highs are possible.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
110 |
120 |
150 |
GBP/USD (4 hours)
Price has dropped under support formed by the two spike lows at 1.327 to open up another leg of the downtrend. 1.32 is the next support from the YTD low.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1.32 |
1.327 |
1.34 |
EUR/USD (4 hours)
Price has tumbled under the psychological 1.10 level after dropping under 1.11 support, which is now resistance within the downtrend.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1.08 |
1.10 |
1.11 |
EUR/GBP (4 hours)
Price has broken down to multi-year lows, under the December 2019 low.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
0.80 |
0.83 |
0.84 |
Platinum (Daily)
Price is trending higher, possibly playing catch-up to other precious metals, and is now back over the 200 SMA and challenging the July ‘21 peak.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
1050 |
1100 |
1200 |
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