Weekly Technical Analysis
Technical Analysis Weekly 28.03.2022
Start your week by identifying the key price levels and trends with an 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 has been trending higher since breaking above resistance at 34,100 but has more recently traded sideways between 34,350 and 34,900.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
34,100 |
34,350 |
35,000 |
UK 100 (4 hours)
The UK 100 price continues to trend higher above both the 50 and 200 SMAs but is trapped underneath the March 23 at 7520.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
7220 |
7310 |
7550 |
Germany 40 (4 hours)
The Germany 40 price broke the 200 SMA but remains under resistance at 14,600. The trend remains up while above the range support at 14,200
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
14,200 |
14,600 |
15,000 |
Gold (4 hours)
The gold price is currently supported by the 200 SMA but a failure to hold above the recent high at 1950 suggests a possible break lower inline with the sell-off from the near-record high.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1900 |
1950 |
1970 |
Silver (4 hours)
Silver failed to maintain a breakout over range resistance at 2570 and is again testing the 2500 round number. Like gold, the current up phase could be a consolidation for a 2nd large down leg.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
2460 |
2570 |
2620 |
Brent Crude (4 hours)
The Brent price made a fakeout move over 120 and has since broken below support at 113, suggesting another test and possible break below the 200 SMA.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
105 |
113 |
119 |
GBP/USD (4 hours)
Sterling hit resistance from the matching lows in late Feb and early March and has since dropped back under broken resistance at 1.32 for a likely re-test of the 1.30 lows.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1.30 |
1.32 |
1.337 |
EUR/USD (4 hours)
The euro backed off from over 1.11 for s second time and since dropped back for several tests of support at 1.097, which looks set to break.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
1.08 |
1.097 |
1.113 |
USD/JPY (4 hours)
The dollar-yen price has rocketed to 125 and 6-year highs, where a blow-off top is possible but not yet confirmed. The trend is strongly higher but well above the 50 SMA and overbought.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Sideways |
120 |
122.5 |
125 |
Russell 2000 (Daily)
The Russell 2000 has barely been participating in the rally off the March lows and is stuck at former support now resistance at 2100. A break above here would add strength to the boarder equity rally.
Source: SpreadEx
|
Trend |
Support |
Pivot |
Resistance |
|
Up |
1900 |
2100 |
2300 |
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