Weekly Technical Analysis
Weekly Technical Analysis
Technical Analysis Weekly
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.
NOTE: These charts use the ‘Pro Trading Tools’ available on the SpreadEx trading platform. To use them, log in to your SpreadEx Financials Account and click ‘Technical’ from the menu on any chart.
Summary
| Instrument | Trend | Phase | Price | VWAP (20) | Support | Resistance | RSI |
|---|---|---|---|---|---|---|---|
| Germany 40 | Bullish | Corrective | 18365 | 18419 | 18079 | 18740 | 48 |
| UK 100 | Neutral | Consolidation | 8201 | 8200 | 8122 | 8253 | 49 |
| Wall Street | Bullish | Corrective | 40371 | 39999 | 38716 | 41282 | 60 |
| Brent Crude | Bullish | Corrective | 82.00 | 84.87 | 81.98 | 88.05 | 37 |
| Gold | Neutral | Consolidation | 2401 | 2389 | 2307 | 2471 | 53 |
| EUR/USD | Bullish | Impulsive | 1.0886 | 1.0842 | 1.0722 | 1.0961 | 58 |
| GBP/USD | Bullish | Impulsive | 1.2925 | 1.2850 | 1.2620 | 1.3079 | 60 |
| USD/JPY | Bullish | Corrective | 156.93 | 159.45 | 155.65 | 163.25 | 38 |
*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 and Elliot waves
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 but has entered a corrective phase, with the price decreasing to 18,365, now below the VWAP of 18,419. Support and resistance levels have adjusted to 18,079 and 18,740, respectively. The RSI has decreased to 48, indicating a reduction in momentum compared to the previous report.
UK 100 remains in a neutral sideways trend and is in a consolidation phase, with the price remaining at 8,201, just above the VWAP of 8,200. Support has adjusted to 8,122, while resistance has decreased to 8,253. The RSI has slightly decreased to 49, reflecting a slight decrease in momentum.
Wall Street remains in a bullish trend but has entered a corrective phase, with the price increasing to 40,371, now above the VWAP of 39,999. Support and resistance levels have adjusted to 38,716 and 41,282, respectively. The RSI has decreased to 60, indicating reduced bullish momentum compared to the previous report.
Brent Crude remains in a bullish trend but has entered a corrective phase, with the price decreasing to 82.00, now below the VWAP of 84.87. Support has adjusted lower to 81.98, while resistance has increased to 88.05. The RSI has decreased to 37, indicating a lack of strong bullish momentum.
Gold remains in a neutral trend and is in a consolidation phase, with the price steady at 2,401, just above the VWAP of 2,389. Support has adjusted lower to 2,307, while resistance has increased to 2,471. The RSI has decreased to 53, indicating a reduction in momentum.
EUR/USD remains in a bullish trend and continues in an impulsive phase, with the price increasing to 1.0886, now above the VWAP of 1.0842. Support has adjusted lower to 1.0722, while resistance has increased to 1.0961. The RSI has decreased to 58, indicating reduced bullish momentum.
GBP/USD remains in a bullish trend and continues in an impulsive phase, with the price decreasing slightly to 1.2925, now above the VWAP of 1.2850. Support has adjusted higher to 1.2620, and resistance has increased to 1.3079. The RSI has decreased to 60, indicating reduced bullish momentum.
USD/JPY remains in a bullish trend and continues in a corrective phase, with the price decreasing slightly to 156.93, now below the VWAP of 159.45. Support has adjusted higher to 155.65, while resistance has increased to 163.25. The RSI remains at 38, reflecting a reduction in bullish momentum compared to the previous report.
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