Daily Index Technical Analysis By Capital Street fx

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Daily Index Analysis – Tech rules Nasdaq, S&P records, FTSE challenges, DAX shines.

Introduction:

In the global indices market, Asian markets show gains, tracking a Wall Street rally. European stocks rise, led by chipmakers, and positive earnings contribute to the upbeat sentiment. Meanwhile, Wall Street ends positively, supported by strong economic data, but rising Treasury yields may affect expectations of a gradual economic slowdown. Market movements hinge on data and central bank decisions, shaping the landscape for investors worldwide.

Market In Focus For Today – Nasdaq 100

The Nasdaq 100 achieves a new record high in a rebound fuelled by the technology sector.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

• MA 5: 17096.98 | Positive Crossover | Bullish
• MA 20: 16961.84 | Positive Crossover | Bullish
• MA 50: 16840.81 | Positive Crossover | Bullish

Simple:

• MA 5: 17066.07 | Positive Crossover | Bullish
• MA 20: 16961.22| Positive Crossover | Bullish
• MA 50: 16840.34 | Positive Crossover | Bullish

RSI (Relative Strength Index): 69.35| Buy Zone| Bullish

Stochastic Oscillator: 100| Buy Zone | Positive

Resistance And Support Levels:

• R1: 17224.28 | R2:17587.17
• S1: 16989.46| S2: 16434.45

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Limit Buy : 17021.48 | Take Profit: 17395.05| Stop Loss: 16765.33.

S&P 500:

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Introduction:

In the Asian indices market, most shares see gains, particularly in China following recent policy moves. However, European shares decline at the open, awaiting updates from the ECB on rates. Meanwhile, U.S. equities advance, propelled by positive earnings and economic data, leading to a rise in yields. Global markets reflect optimism, with MSCI's global equity index hitting a near two-year high, fuelled by encouraging developments in Europe, the U.S., and expectations of Chinese stimulus support.

Market In Focus For Today – DOW JONES

The Dow Jones Industrial Average briefly rallied 150 points Wednesday, as Wall Street reacted to Netflix's (NFLX) earnings report.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

• MA 5: 38089.54 | Negative Crossover | Bearish
• MA 20: 37908.35 | Positive Crossover | Bullish
• MA 50: 37809.36 | Positive Crossover | Bullish

Simple:

• MA 5: 38103.05 | Negative Crossover | Bearish
• MA 20: 37908.37| Positive Crossover | Bullish
• MA 50: 37809.31 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 57.43| Buy Zone| Bullish

Stochastic Oscillator: 13.31| Sell Zone | Negative

Resistance And Support Levels:

• R1: 38299.50 | R2: 38795.01
• S1: 37969.16| S2: 37308.48

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Limit Buy: 37728.91 | Take Profit: 38299.50| Stop Loss: 37308.48.

S&P 500:

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Weekly Index Analysis – Nasdaq's ride, S&P records, trade insights.

Introduction:

Asian stocks are poised for a weekly gain, with attention focused on the upcoming US inflation test. The Shanghai composite has risen by 0.14%. Across the region, the Singapore MSCI is up 0.76% at 279.55. European equities have reached a two-year peak, driven by positive economic indicators and strong earnings reports. On Wall Street, there is an uptrend fueled by robust GDP data. The strong start to the year for the US stock market faces a significant challenge next week, with a busy schedule featuring major tech earnings, the Federal Reserve's monetary policy meeting, and the eagerly awaited employment report.

Market In Focus For The Next Week – Nasdaq 100

Nasdaq 100 futures experienced a decline on Friday morning following Intel's issuance of an outlook that failed to meet Wall Street's expectations.

TECHNICAL OVERVIEW:

Moving Average s:

Exponential:

• MA 5: 17560.54 | Negative Crossover | Bearish
• MA 20 : 17462.35 | Positive Crossover | Bullish
• MA 50: 17066.36 | Positive Crossover | Bullish

Simple:

• MA 5: 17587.05 | Negative Crossover | Bearish
• MA 20 : 17462.37| Positive Crossover | Bullish
• MA 50: 17066.31 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 60.58**|** Buy Zone| Bullish
Stochastic Oscillator: 2.14| Sell Zone **|**Negative

Resistance And Support Levels:

• R1: 17791.70 | R2: 18176.39
• S1: 17443.08| S2: 17058.39

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Limit Buy: 17226.69 | Take Profit: 17719.57| Stop Loss: 16902.11.

S&P 500:

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Daily Index Analysis – Global markets tumble, U.S. inflation soars.

Introduction:

"In the global indices market, the aftermath of soaring U.S. inflation data is felt across most Asian markets, with declines witnessed in key indices. Meanwhile, the Shanghai composite bucks the trend with a 1.28% gain. In Europe, stock markets witness an upswing as the UK's inflation rate retreats. Conversely, U.S. stocks face a decline on Tuesday as worse-than-expected inflation data dispels hopes for a May interest rate cut, shaping a complex landscape in international financial markets."

Market In Focus For Today – Dow Jones

Dow plunges 500 points, marking its most significant decline since March 2023, following a robust inflation report.

TECHNICAL OVERVIEW:

Moving Average s:

Exponential:

• MA 5: 38555.70 | Negative Crossover | Bearish
• MA 20 : 38650.67 | Negative Crossover | Bearish
• MA 50: 38480.25 | Negative Crossover | Bearish

Simple:

• MA 5: 38268.85 | Negative Crossover | Bearish
• MA 20 : 38650.67| Negative Crossover | Bearish
• MA 50: 38480.55 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 42.8**|** Neutral Zone| Neutral

Stochastic Oscillator: 5.23| Sell Zone | Negative

Resistance And Support Levels:

• R1: 38859.88 | R2: 39412.06
• S1: 38231.22| S2: 37387.75

Overall Sentiment: Bearish | Market Direction: Sell

Trade Suggestion: Limit Sell: 38445.91 | Take Profit: 37817.15| Stop Loss: 38859.98.

S&P 500:

U.S. stocks decline as inflation data dashes hopes for a rate cut. The S&P 500 registers a drop of 66.94 points, or 1.33%.

TECHNICAL OVERVIEW:

Moving Average s:

Exponential:

• MA 5: 5000.22 | Negative Crossover | Bearish
• MA 20 : 5007.20 | Negative Crossover | Bearish
• MA 50: 4959.99 | Positive Crossover | Bullish

Simple:

• MA 5: 5014.37 | Negative Crossover | Bearish
• MA 20 : 5007.20| Negative Crossover | Bearish
• MA 50: 4959.99| Positive Crossover | Bullish

RSI (Relative Strength Index) : 49.04**|** Bullish Zone| Positive

Stochastic Oscillator**:** 6.39| Sell Zone | Negative

Resistance And Support Levels:

• R1: 5064.20 | R2: 5160.51
• S1: 4955.18| S2: 4862.51

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Limit Buy: 4995.15 | Take Profit: 5064.20| Stop Loss: 4955.18.

FTSE 100:

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Weekly Commodity Analysis – Gold highs, silver shines, oil soars.

Introduction

Gold, represented by XAU/USD, surged to a three-day high at $2015 amid rising inflation concerns and signals from the Federal Reserve. The softer Dollar and higher US Treasury yields contribute to the precious metal's appeal. Meanwhile, silver resiliently heads for a positive weekly close, distinguishing itself from gold's projected negative week-end. In the energy sector, oil prices climb on Middle East tensions, while Natural Gas faces sustained downward pressure with potential implications for long-term pricing. The US Dollar Index strengthens with favorable Producer Price Index (PPI) outcomes.

Markets In Focus Today – GOLD

XAU/USD Hits Three-Day High Amid Inflation Concerns, Fed's Policy Signals.

Gold hits $2015, benefiting from a softer Dollar and higher US Treasury yields amid persistent inflation signs PPI and Core PPI surpass forecasts, indicating ongoing inflation and complicating the Fed's targets. Hints of future rate cuts from Fed officials sway market outlook, enhancing gold's attractiveness as a hedge against policy ambiguity. Gold price extended its gains for two straight days, hitting a three-day high at $2015 as the Greenback tumbled, despite US Treasury yields rising. US economic data suggests inflation is stickier than expected, though Federal Reserve's officials opened the door to ease policy.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2014.7705 | Negative Crossover | Bearish
• MA 20 : 2021.4628 | Negative Crossover | Bearish
• MA 50 : 2021.1641 | Negative Crossover | Bearish

Simple :

• MA 10 : 2017.6327 | Negative Crossover | Bearish
• MA 20 : 2024.0798 | Negative Crossover | Bearish
• MA 50 : 2032.0209 | Negative Crossover | Bearish

RSI (Relative Strength Index): 45.9342 | Buy Zone | Bullish

Stochastic Oscillator : 43.41 | Neutral Zone | Positive

Resistance And Support Levels :

• R1 : 2069.3797 R2 : 2087.5470
• S1 : 2010.5670 S2 : 1992.3997

Overall Sentiment: Neutral Market Direction: Buy

Trade Suggestion: Stop Buy: 2016.45 | Take Profit: 2048.10 | Stop Loss: 1997.69

SILVER

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