Technical Analysis

The Dow Jones turned negative after finding a strong resistance level near 28780. Technically, despite the bearish tendency, we find the index is intraday above 28460, with the RSI trying to provide positive signals. We believe that the daily trend is still bullish, but in condition of the breach of …

Negative trading returned to dominate the pound’s moves against its Japanese counterpart, negating the positive outlook as we expected, we indicated that the return of trading stability below 139.60 will negate the suggested scenario and put the price under negative pressure with an initial target of 136.35, to record its …

The technical outlook remains unchanged and pair remains little changed in negative territory. Technically, we find that the pair is stable around the support level of 1.3120, with the simple moving averages continuing their negative pressure on prices, in addition to some features of a bearish technical pattern on the …

The pound failed to achieve long-term stability above 1.3000 against the US dollar, retreating significantly. Note that we mentioned in previous analysis that stability of trading below 1.3000 is an important and essential condition to activate the suggested scenario and trading below it negate the bullish attempts and we may …

Oil, Crude, trading

Gold prices were subjected to intense selling during the previous session within the expected bearish, in which we relied on the stability of intraday trading below 1925 in general below 1935, indicating that we are waiting for a bearish correction targeting 1890 and 1895 to post low of 1822 in …

The European currency fell yesterday to halt the positive outlook, in which we depended on the pair’s stability above 1.1770, and to remind us that we indicated in the previous report that trading below 1.1770 will negate the bullish trend, and we are witnessing a re-test of 1.1720, recording the …

The positivity continues in German DAX index, remains within the bullish path and touches the first target expected in the previous analysis, 13155 posting high at 13161. Technically, we find the RSI tilted to the positive with the index stable above its 50-day moving average. We will maintain our positive …

The Dow Jones Industrial Average continues posting gains, touching the first target mentioned in the previous analysis at 28740, posting a high of 28,843. Technically speaking, looking at the 60-minute chart, we find that the index continues to get a positive sign from the 50 SMA, which continues to hold …

The pound was dominated by positive trading against the yen, after it managed to establish strong support around 136.60. Technically, we are biased towards the positivity based on the positive crossover signals coming from the stochastic indicator on the 240-minute time frame. A bullish bias will be likely today, provided …