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 | Consolidation | 18430 | 18430 | 18129 | 18722 | 50 |
| UK 100 | Neutral | Impulsive | 8353 | 8191 | 8077 | 8306 | 63 |
| Wall Street | Bullish | Impulsive | 40686 | 40229 | 39143 | 41316 | 62 |
| Brent Crude | Neutral | Consolidation | 80.31 | 83.14 | 79.11 | 87.17 | 35 |
| Gold | Neutral | Consolidation | 2389 | 2403 | 2344 | 2463 | 50 |
| EUR/USD | Bullish | Corrective | 1.0834 | 1.0868 | 1.0800 | 1.0936 | 48 |
| GBP/USD | Bullish | Corrective | 1.2814 | 1.2901 | 1.2770 | 1.3033 | 44 |
| USD/JPY | Bullish | Corrective | 153.63 | 157.36 | 152.10 | 162.63 | 28 |
*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 is still in a sideways consolidation but, with the price stuck close to the VWAP of 18,430. Support and resistance levels have adjusted to 18,129 and 18,722, respectively. The RSI has increased to 50, indicating stable momentum compared to the previous report.
UK 100 looks to be breaking out of its neutral sideways trend and is now in a new bullish impulsive phase, with the price increasing to 8,353, above the VWAP of 8,191. Support has adjusted to 8,077, while resistance has decreased to 8,306. The RSI has increased to 63, reflecting a significant increase in momentum.
Wall Street remains in a bullish trend and has entered an impulsive phase, with the price increasing to 40,686, now above the VWAP of 40,229. Support and resistance levels have adjusted to 39,143 and 41,316, respectively. The RSI has increased to 62, indicating strong bullish momentum compared to the previous report.
Brent Crude remains overall choppy and trendless but has entered a short term bearish impulsive phase, with the price decreasing to 80.31, now below the VWAP of 83.14. Support has adjusted lower to 79.11, while resistance has increased to 87.17. The RSI has decreased to 35, indicating a lack of strong bullish momentum.
Gold remains in a neutral trend and is in a consolidation phase, with the price steady at 2,389, now below the VWAP of 2,403. Support has adjusted lower to 2,344, while resistance has increased to 2,463. The RSI has decreased to 50, indicating stable momentum.
EUR/USD remains in a bullish trend but has entered a corrective phase, with the price decreasing to 1.0834, now below the VWAP of 1.0868. Support has adjusted lower to 1.0800, while resistance has increased to 1.0936. The RSI has decreased to 48, indicating reduced bullish momentum.
GBP/USD remains in a bullish trend but has entered a corrective phase, with the price decreasing slightly to 1.2814, now below the VWAP of 1.2901. Support has adjusted higher to 1.2770, and resistance has increased to 1.3033. The RSI has decreased to 44, indicating reduced bullish momentum.
USD/JPY remains in a bullish trend and continues in a corrective phase, with the price decreasing to 153.63, now below the VWAP of 157.36. Support has adjusted higher to 152.10, while resistance has increased to 162.63. The RSI has decreased to 28, reflecting a significant reduction in bullish momentum compared to the previous report.
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