Weekly Technical Analysis
Technical Analysis Weekly 21.03.2022
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)
The price of Wall Street broke above the ceiling of its range, which is the new pivot for near term direction. The trend is now up, while the price holds above its moving averages.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
33,500 |
34,100 |
35,000 |
UK 100 (4 hours)
The UK 100 price has rallied strongly back over the 200 SMA, where it looks overbought and pullback to the 50 SMA and old range resistance is possible.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
7220 |
7310 |
7550 |
Germany 40 (4 hours)
The Germany 40 price is stalling under its 200 SMA after breaking above and successfully testing 4100. The momentum is now up but the 4hr uptrend is still retracing the longer-term downtrend.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
13,600 |
14,100 |
14,850 |
Gold (4 hours)
The gold price completed the Head & Shoulders top and dropped back to its 200 SMA, where it has formed a base. A move over the H&S neckline would confirm the end of the correction lower.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1880 |
1965 |
2000 |
Silver (4 hours)
Silver has rallied right back to the neckline of its completed head and shoulders pattern. A move back over the neckline and 50 SMA would indicate further upside.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
24.6 |
25.7 |
26.4 |
Brent Crude (4 hours)
The Brent price erased its entire March rally before stabilising and rising back over the key 100 level as well as both SMAs. Another drop under 100 would likely put a pause to the long term uptrend.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
97 |
110 |
119 |
GBP/USD (4 hours)
Sterling found some buyers at 1.30 and is now stalling at 1.32 as resistance, where a breakout could target the 200 SMA then the Feb 25&28 peaks over 1.34.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1.30 |
1.32 |
1.337 |
EUR/USD (4 hours)
The euro has rallied back over 1.11 and fallen back for a second time. The third attempt could see a breakout but the 200 SMA then 1.13 is resistance.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1.091 |
1.111 |
1.128 |
EUR/GBP (4 hours)
Price could be topping out with the neckline of a possible triple top and the 200 SMA the critical pivot price level.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
0.83 |
0.836 |
0.847 |
GBP/JPY (Weekly)
The yen is breaking down vs most major currencies. GBP/JPY sits at 4-year resistance at 157.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
150 |
157 |
175 |
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