Weekly Technical AnalysisStart 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.
*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
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Germany 40
Germany 40 remains bullish but has shifted into an impulsive phase. The price is 19,417, sitting above the VWAP (20) of 19,136. Support is now at 18,735, while resistance is positioned at 19,537. The RSI has increased to 62, signalling strong bullish momentum.
UK 100
The UK 100 continues in a neutral trend within a consolidation phase. The price is 8,245, just under the VWAP (20) of 8,269. Support is at 8,212, and resistance is at 8,326. The RSI is at 46, reflecting reduced momentum and indicating no clear directional bias.
Wall Street
Wall Street remains bullish, in an impulsive phase. The current price is 42,805, above the VWAP (20) of 42,186. Support is at 41,597, and resistance is positioned at 42,800. The RSI stands at 64, reflecting continued bullish momentum.
Brent Crude
Brent Crude remains bullish in an impulsive phase. The price is 77.12, above the VWAP (20) of 75.36. Support is located at 69.59, and resistance is at 81.13. The RSI is 53, indicating moderate bullish momentum with potential for more upside.
Gold
Gold continues to be bullish and in an impulsive phase. The current price is 2,658, above the VWAP (20) of 2,645. Support is found at 2,611, while resistance is at 2,679. The RSI is 61, showing steady bullish momentum.
EUR/USD
EUR/USD remains in a bearish trend, in an impulsive phase. The price is 1.0924, below the VWAP (20) of 1.1051. Support is at 1.0924, while resistance stands at 1.1249. The RSI is 31, signalling strong bearish momentum.
GBP/USD
GBP/USD remains bullish, though in a corrective phase. The price is 1.3052, below the VWAP (20) of 1.3220. Support is at 1.2936, and resistance is at 1.3505. The RSI is 37, reflecting slowing bullish momentum.
USD/JPY
USD/JPY remains bullish, in an impulsive phase. The current price is 149.48, well above the VWAP (20) of 146.14. Support is at 140.83, and resistance is at 151.45. The RSI stands at 65, indicating strong bullish momentum.