Spreadex

Weekly Technical Analysis 15/01/2024

SPREADEX:GDAXI   Germany 40, Daily
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.
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Germany 40
Germany 40 is now exhibiting a neutral trend. The price is oscillating around the 20-period VWAP of 16,676. The index finds support at 16,533 and resistance at 16,824. The RSI has risen to 53, indicating a market that is neither overbought nor oversold, allowing for potential movement in either direction.

UK 100
UK 100 is showing a neutral trend with the price consolidating around the 20-period VWAP of 7,685. Support is now at 7,600, with resistance at 7,770. The RSI has decreased to 44, suggesting a market that may continue its downward trajectory.

Wall Street
Wall Street is currently in a bullish trend with the price consistently above the 20-period VWAP of 37,540. It has support at 37,286 and resistance at 37,795. The RSI is at 60, indicating moderate bullish momentum that has come down from overbought conditions.

Brent Crude Oil
Brent Crude Oil is in a neutral phase following a downtrend, with the price just under the 20-period VWAP of 78.28. The commodity has support at 75.94 and resistance at 80.62. The RSI of 48 suggests a market that is neither overbought or oversold, but the bearish trend might persist.

Gold
Gold remains neutral, with the price now trading back and forth around the 20-period VWAP of 2,053. Support is at 2,023, and resistance is found at 2,078. An RSI of 56 shows moderate bullish momentum without imminent overbought concerns.

EUR/USD
EUR/USD has shifted to a neutral trend with the current price below the 20-period VWAP of 1.098. Support lies at 1.087, and resistance is at 1.109. The RSI at 48 indicates a moderate bearish momentum, suggesting potential continuation downwards.

GBP/USD
GBP/USD is now demonstrating a neutral to bullish trend, trading mostly above its 20-period VWAP of 1.2717. The pair has support at 1.2640 and faces resistance at 1.2793. The RSI stands at 52, suggesting a balanced market with potential for movement in either direction.

USD/JPY
USD/JPY has turned bullish with its price above the 20-period VWAP of 143.37. It has established support at 140.10 and resistance at 146.65. The RSI at 58 leans towards bullish momentum, which could lead to continued upward movement.


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