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.
*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 maintains its bullish momentum in an impulsive phase, currently trading at 20,324, slightly down from the highs but significantly above the VWAP (20) of 19,936. Support is positioned at 19,046, with resistance nearby at 20,825. The RSI at 66 indicates strong momentum, suggesting the uptrend could continue.
UK 100 index remains neutral within a consolidation phase, trading at 8,272, slightly below the VWAP (20) of 8,303. Support is at 8,249, and resistance is at 8,357. With an RSI of 50, the momentum is balanced, reflecting a lack of directional bias.
Wall Street has entered a correction phase within its bullish trend, trading at 43,850, below the VWAP (20) of 44,572. Support is at 43,800, with resistance ahead at 45,394. The RSI at 43 shows weakening momentum, suggesting caution as the uptrend may reverse in the short term.
Brent Crude continues in a neutral consolidation phase, which now looks like a clear triangle pattern, currently priced at 7,376, slightly above the VWAP (20) of 7,270. Support is positioned at 7,063, while resistance is at 7,478. The RSI at 54 indicates moderate momentum, consistent with range-bound trading.
Gold remains neutral in a consolidation phase with little change over the past week, trading at 2,658, near the VWAP (20) of 2,650. Support is set at 2,598, with resistance at 2,713. The RSI at 50 reflects balanced momentum, signaling indecisiveness in the market.
EUR/USD continues in a bearish correction phase, trading at 1.0502, slightly below the VWAP (20) of 1.0520. Support is at 1.0444, and resistance is at 1.0601. The RSI at 42 indicates bearish momentum, hinting at continued downside pressure.
GBP/USD is in a bearish correction phase, trading at 1.2653, back below the VWAP (20) of 1.2670 but inside horizontal VWAP bands. Support is at 1.2543, and resistance is at 1.2817. The RSI at 43 suggests mild bearish momentum, with potential for further downside.
USD/JPY is bullish in a correction phase, trading at 153.83, now back above the VWAP (20) of 151.61 in what could be a sign the uptrend is resuming. Support is at 148.22, and resistance is at 154.99. The RSI at 60 reflects strong upward momentum, suggesting further gains are likely.
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
---------------------------------------------------------------------------------------------------------------------
Germany 40 maintains its bullish momentum in an impulsive phase, currently trading at 20,324, slightly down from the highs but significantly above the VWAP (20) of 19,936. Support is positioned at 19,046, with resistance nearby at 20,825. The RSI at 66 indicates strong momentum, suggesting the uptrend could continue.
UK 100 index remains neutral within a consolidation phase, trading at 8,272, slightly below the VWAP (20) of 8,303. Support is at 8,249, and resistance is at 8,357. With an RSI of 50, the momentum is balanced, reflecting a lack of directional bias.
Wall Street has entered a correction phase within its bullish trend, trading at 43,850, below the VWAP (20) of 44,572. Support is at 43,800, with resistance ahead at 45,394. The RSI at 43 shows weakening momentum, suggesting caution as the uptrend may reverse in the short term.
Brent Crude continues in a neutral consolidation phase, which now looks like a clear triangle pattern, currently priced at 7,376, slightly above the VWAP (20) of 7,270. Support is positioned at 7,063, while resistance is at 7,478. The RSI at 54 indicates moderate momentum, consistent with range-bound trading.
Gold remains neutral in a consolidation phase with little change over the past week, trading at 2,658, near the VWAP (20) of 2,650. Support is set at 2,598, with resistance at 2,713. The RSI at 50 reflects balanced momentum, signaling indecisiveness in the market.
EUR/USD continues in a bearish correction phase, trading at 1.0502, slightly below the VWAP (20) of 1.0520. Support is at 1.0444, and resistance is at 1.0601. The RSI at 42 indicates bearish momentum, hinting at continued downside pressure.
GBP/USD is in a bearish correction phase, trading at 1.2653, back below the VWAP (20) of 1.2670 but inside horizontal VWAP bands. Support is at 1.2543, and resistance is at 1.2817. The RSI at 43 suggests mild bearish momentum, with potential for further downside.
USD/JPY is bullish in a correction phase, trading at 153.83, now back above the VWAP (20) of 151.61 in what could be a sign the uptrend is resuming. Support is at 148.22, and resistance is at 154.99. The RSI at 60 reflects strong upward momentum, suggesting further gains are likely.
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