Weekly Technical Analysis
Weekly Technical Analysis
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.
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US TECH (1 day)
US TECH attempted a comeback at the upper end of an ascending channel, increasing chances of a respite towards 13720, but doable only if it sustains 13k. A failure or break within the channel might open the door to 12k.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
UP |
12000 |
12470 |
13720 |
UK 100 (1 day)
The UK’s 100 index might form a larger head-and-shoulders pattern, with the neckline down at 6700. If 7700 holds in case of increased longs, the index might revisit last week’s low of 7200 and perhaps lower. Otherwise, an extension to 7870 might be seen.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
UP |
7130 |
7400 |
7870 |
S&P 500 (1 day)
The S&P 500 bounced at the lower ascending channel trendline just near 3900, exposing 3750 in the event of further declines. Failing to gain traction towards 4200 might keep prices around the 4k threshold unless bears persist.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
UP |
3750 |
3940 |
4200 |
BRENT CRUDE (1 day)
Brent continued its predominant trend after completing a triangle pattern, aiming for the measured-move low of $66.70/b. Losing the swing at $70/b might provoke further downside action unless bulls regain control of the triangle low near $80/b.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
DOWN |
66.70 |
78.60 |
80.00 |
GOLD (1 day)
After receiving rejection at the upper channel, gold failed to get past 2015/oz, ending the week below the 2k handle. If bears push the metal lower, prices might head towards the 1900/oz hurdle unless the swing low of 1935/oz holds firm. Otherwise, an attempt at the high of 2080/oz might commence.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
UP |
1900 |
1975 |
2080 |
SILVER (1 day)
Silver continued higher but found resistance at the upper base channel trendline near 23.70/oz. Dropping lower might complete a retracement near 22.20/oz or 21.40/oz unless prices advance towards the peak of 24.80/oz.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
UP |
21.40 |
22.80 |
24.80 |
EUR/GBP (1 day)
Euro rose against the pound, with 0.8718 being the local support under 0.88 and 0.87 a significant barrier. Within a flag pattern, if bulls manage to take out the upper trendline, the pair might edge towards the peak at 0.8980.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
UP |
0.8700 |
0.8800 |
0.8980 |
EUR/USD (4 hours)
EUR/USD might be forming an expanding wedge, targeting the previous top at 1.1032, provided 1.0930 gives in in the event of bullish price action. 1.06 remains strong support and attracts bearish bets, but it needs the round 1.07 barrier to succumb for a slide there.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
DOWN |
1.0600 |
1.0789 |
1.1030 |
USD/CAD (4 hours)
USD/CAD fell lower to complete what appears to be a pennant or wedge, down at 1.3630. If bulls maintain prices above the wedge trendline near 1.37, an attempt at the measured-move target of 1.3966 might be seen, should the peak of 1.3862 give way. Otherwise, we might see the lower 360s again.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
UP |
1.3600 |
1.3721 |
1.3966 |
AUD/USD (4 hours)
AUD/USD slid under the wedge pattern recently, but only marginally. If bulls can recapture 0.67 early in the week, some respite towards 0.68 and higher might be seen. On the flip side, staying under pressure might expose 0.6451 if the low of 0.6563 breaks.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
DOWN |
0.6451 |
0.6687 |
0.6812 |
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