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Fischer's comments dragged SP-MAR16 down below 1920

Discussion in 'Current Market Sentiments' started by fx-recommends, Feb 2, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

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    SP Mar. 16 Daily 02-02-2016 07-08-16 ص.jpg
    Following Fischer's comments which highlighted the Fed's worries and uncertainty, SP-MAR16 came under pressure to fall below 1920, after facing difficulty to get higher than 1940 yesterday.

    SP-Mar16 daily RSI is reading now 47.638 in its neutral region, while its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line into the overbought area above 80 reading 85.510, while its signal line is still unable to enter the overbought area to continue to be in the neutral region but close to the overbought area reading now 78.737.

    SP-Mar16 daily Parabolic SAR (step 0.02, maximum 0.2) is referring today to 1844.24 in its eighth day of being below the trading rate, after rising extension last Friday reached 1902 on last Jan. 22.


    Important levels: Daily SMA50 @ 1991.85, Daily SMA100 @ 2001.71 and Daily SMA200 @ 2035.55

    S&R:

    S1: 1864.50
    S2: 1851.25
    S3: 1836.25
    R1: 1946.25
    R2: 1964.50
    R3: 2016.50


    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    walid.s@trade-24.com
    Tel: UK. +44 1138590277
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