1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

The US equities shrugged off the labor market good news too

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 11, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    SP Mar 16 Daily 11-01-2016 06-34-41 ص.jpg
    On the bullish release of Dec US labor report, SP-MAR16 could rise but to have only a new lower high at 1964.50 to fall from and in the beginning trading hours of the new week SP-MAR16 future rate came under more pressure to reach 1894.25, before rebounding to 1910 area

    SP-Mar16 has previously formed a lower high at 2074.65 on Dec. 30, after facing difficulty several times to keep a place above 2100 to be exposed to the current downside extension which can lead to forming more lower highs, after failing to return above its daily SMA100 forming resistance at 2016.50.

    SP-Mar16 daily RSI is referring to existence in its oversold area below 30 reading now 28.259 and also its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the oversold region below 20 reading 5.860 and also its signal line which is referring to 9.226 showing need for fixing this oversold stance.

    Important levels: Daily SMA50 @ 2050.05, Daily SMA100 @ 2009.85 and Daily SMA200 @ 2051.23


    S1: 1894.25
    S2: 1882.38
    S3: 1870.63
    R1: 1964.50
    R2: 2016.50
    R3: 2074.65

    Have a good day

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

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

    To open your account at Trade-24 - Click here

Share This Page