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US 500 cash index experiences a minor pullack Meets support at 123.6% Fibo extension of its 2022 downtrend Oscillators exit overbought zones, but do not weaken dramatically The US 500 stock index (cash) has been staging an impressive rally since it bottomed out in October 2023, generating consecutive all-time highs. Although the price has been experiencing a setback in the past two […]

The post US 500 Reverses Towards 123.6% Fibonacci appeared first on Action Forex.

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24/05/2024

Is the Pause in NGAS a Warning Signal?

Natural gas faces limits near January’s peak Technical signals flag some weakness Improved trend signals suggest bullish continuation Lower-than-usual storage increases, improved demand forecasts, and a summer season ahead boosted natural gas prices above the key 200-day simple moving average (SMA) and more recently to a four-month high of 2.90. The price, however, eased immediately to […]
26/01/2024

WTI Wave Analysis

WTI broke key resistance level 75.00 Likely to rise to resistance level 79.15 WTI crude oil recently broke the key resistance level 75.00 (which has been reversing the price from the end of December). The breakout of the resistance level 75.00 coincided with the breakout of the 61.8% Fibonacci correction of the previous sharp downward […]
02/09/2024

EURUSD Pauses Bearish Correction Near 1.1050

EURUSD recoups some losses Finds support near 20-day SMA Stochastics and RSI point north EURUSD is recovering somewhat after three consecutive red days from its 13-month high of 1.1200. The price is flirting with the 20-day simple moving average (SMA) and the 1.1050 support level, while the technical oscillators are showing some improvement. The stochastic […]