Support and resistance levels forex dubai
The FTSE added 25 points to close at 6, Helping UK shares were also record lows in bond yields, prompting investors into higher yielding assets. The Footsie established a higher high intraday at 6,, and maintains the positive tone seen on previous updates. In the daily chart, the RSI indicator continues heading higher, despite being at 75, while the Momentum indicator advanced remains mostly flat within positive territory, rather due to the lack of volume than to the absence of buying interest.
In the 4 hours chart, the technical picture offers a neutral-to-bullish stance, with the benchmark well above its moving averages, the Momentum indicator lacking directional strength above its level, and the RSI indicator heading modestly lower within overbought territory.
European equities ended the day marginally higher, with the German DAX adding 25 points to close the day at 10, The index surged intraday to a fresh yearly high of 10, in intraday trading, now a few points below close. The automaker Volkswagen led the rally, closing 1. A lackluster macroeconomic calendar and with half European countries on holiday, resulted in extreme thin trading also within stocks.
Now holding near the mentioned daily close, the index maintains its positive tone, although the upward momentum is fading, given that the technical indicators have turned modestly lower near oversold readings, although the downward potential remains limited, as the 20 SMA maintains its sharp bullish slope far below the current level.
In the 4 hours chart, the benchmark is also above its moving averages, but the Momentum indicator has turned lower, now consolidating barely above its level, while the RSI turned modestly lower, but remains in overbought levels, indicating that the index may extend its advance during the upcoming sessions.
The Nikkei edged lower this Monday, closing the day at 16, The index advanced modestly in after hours trading, as Wall Street surged to fresh record highs, but gains were limited by yen's persistent strength. Technically, the daily chart favors a continued advance, as the benchmark remains above its 20 and DMAs, while the technical indicators have extended their advances within positive territory. In the shorter term, the 4 hours chart, presents a neutral-to-bullish tone, as the index holds above a bullish 20 SMA, but the technical indicators hold flat within positive territory, this last, mostly due to the limited trading volume seen through the day.
The commodity may also react to the release of US inflation data this Tuesday, getting a boost from disappointing results as poor inflation will delay further chances of a US rate hike. Technically, spot's daily chart shows that the neutral stance persists, with the commodity finding short term demand on slides towards the 1, In the shorter term, the 4 hours chart shows that price is right below all of its moving averages that converge at 1, Technically, the daily chart shows that the price is nearing its DMA, around In the 4 hours chart, the price has extended further above its moving averages, with the 20 SMA now heading sharply higher around Contracts for Difference CFDs and margined FX are leveraged products which carry a high degree of risk to your capital.
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Technical Analysis is the. Simple chart analysis can help identify support and resistance levels. Trade Reviews 29th March — 2nd April. I was looking at the daily charts on this one.
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