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.
WEEK COMMENCING 27th JANUARY 2025
Summary
| Instrument | Trend | Phase | Price | VWAP (20) | Support | Resistance | RSI |
|---|---|---|---|---|---|---|---|
| Germany 40 | Bullish | Impulsive | 21145 | 20592 | 19618 | 21566 | 67 |
| UK 100 | Bullish | Impulsive | 8487 | 8356 | 8084 | 8628 | 62 |
| Wall Street | Bullish | Impulsive | 44019 | 43011 | 41344 | 44678 | 60 |
| Brent Crude | Bullish | Correction | 7736 | 7851 | 7509 | 8193 | 49 |
| Gold | Bullish | Impulsive | 2769 | 2699 | 2611 | 2787 | 70 |
| EUR/USD | Bearish | Correction | 1.0512 | 1.0344 | 1.0177 | 1.0520 | 64 |
| GBP/USD | Bearish | Correction | 1.2497 | 1.2321 | 1.2089 | 1.2553 | 58 |
| USD/JPY | Bullish | Correction | 154.01 | 156.67 | 154.20 | 159.06 | 36 |
*KEY
Trend is set by the slope of the VWAP over 50 periods
Phase is determined by the current price relative to the VWAP (20) level (above or below)
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
The Germany 40 remains in a robust bullish impulsive phase, trading at 21,145, still well above its VWAP (20) of 20,592 despite a pullback on Monday. Support is established at 19,618, while resistance is at 21,566. With the RSI at 67, the index shows strong upward momentum.
UK 100
The UK 100 maintains its bullish impulsive momentum, trading at 8,487, comfortably above its VWAP (20) of 8,356 after the big rally. Support is defined at 8,084, and immediate resistance lies at 8,628. The RSI at 62 indicates sustained bullish momentum in the current trend.
Wall Street
Wall Street continues its bullish impulsive trend, trading at 44,019, exceeding its VWAP (20) of 43,011. Support is located at 41,344, while resistance is seen at 44,678. The RSI at 60 reflects balanced momentum, supporting further potential gains.
Brent Crude
Brent Crude has entered a correction of its relatively new bullish trend, currently trading at 77.36, slightly below its VWAP (20) of 78.51. Support is at 75.09, while resistance is positioned at 81.93. With an RSI of 49, momentum appears neutral as the correction unfolds.
Gold
Gold has flipped into a new bullish impulsive trajectory, trading at 2,769, comfortably above its VWAP (20) of 2,699 but still below the record high. Support is seen at 2,611, with resistance at 2,787. The RSI at 70 signals that the market is at the edge of overbought territory.
EUR/USD
EUR/USD has entered a correction of its long running bearish trend, trading at 1.0512, just above its VWAP (20) of 1.0344. Support is defined at 1.0177, and resistance is capped at 1.0520. The RSI at 64 suggests bearish momentum is softening.
GBP/USD
GBP/USD also stays within a bearish trend but enters a correction, trading at 1.2497, above its VWAP (20) of 1.2321. Support is established at 1.2089, while resistance is at 1.2553. With an RSI of 58, momentum is stabilising after previously being oversold.
USD/JPY
USD/JPY is deeper into a bullish correction phase, trading at 154.01, below its VWAP (20) of 156.67. Support is anchored at 154.20, and resistance is seen at 159.06. The RSI at 36 suggests fresh bearish momentum.
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