BEL MID INDEX - 1H - Technical analysis published on 05/08/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 7,104.91 EUR
My targets
7,242.80 EUR (+1.42%)
7,363.54 EUR (+3.11%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BEL MID INDEX as long as the price remains well above 7,104.91 EUR. The buyers' bullish objective is set at 7,242.80 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7,363.54 EUR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8
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Additional analysis
Quotes
The BEL MID INDEX rating is 7,141.61 EUR. The price is lower by -0.02% since the last closing and was between 7,136.31 EUR and 7,170.16 EUR. This implies that the price is at +0.07% from its lowest and at -0.40% from its highest.7,136.31
7,170.16
7,141.61
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BEL MID INDEX:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BEL MID INDEX indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are bullish. There is still some doubt about the price increase.
The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 6,918.12 | 7,045.69 | 7,104.91 | 7,141.61 | 7,363.54 |
| Change (%) | -3.13% | -1.34% | -0.51% | - | +3.11% |
| Change | -223.49 | -95.92 | -36.70 | - | +221.93 |
| Level | Major | Intermediate | Intermediate | - | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,057.64 | 7,074.70 | 7,108.82 | 7,125.88 | 7,160.00 | 7,177.06 | 7,211.18 |
| Camarilla | 7,128.87 | 7,133.56 | 7,138.25 | 7,142.94 | 7,147.63 | 7,152.32 | 7,157.02 |
| Woodie | 7,066.17 | 7,078.97 | 7,117.35 | 7,130.15 | 7,168.53 | 7,181.33 | 7,219.71 |
| Fibonacci | 7,074.70 | 7,094.25 | 7,106.33 | 7,125.88 | 7,145.43 | 7,157.51 | 7,177.06 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,901.58 | 6,953.64 | 7,015.32 | 7,067.38 | 7,129.06 | 7,181.12 | 7,242.80 |
| Camarilla | 7,045.71 | 7,056.14 | 7,066.56 | 7,076.99 | 7,087.42 | 7,097.84 | 7,108.27 |
| Woodie | 6,906.38 | 6,956.05 | 7,020.12 | 7,069.79 | 7,133.86 | 7,183.53 | 7,247.60 |
| Fibonacci | 6,953.64 | 6,997.09 | 7,023.94 | 7,067.38 | 7,110.83 | 7,137.68 | 7,181.12 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,617.79 | 6,724.49 | 6,890.16 | 6,996.86 | 7,162.53 | 7,269.23 | 7,434.90 |
| Camarilla | 6,980.92 | 7,005.89 | 7,030.85 | 7,055.82 | 7,080.79 | 7,105.76 | 7,130.72 |
| Woodie | 6,647.27 | 6,739.23 | 6,919.64 | 7,011.60 | 7,192.01 | 7,283.97 | 7,464.38 |
| Fibonacci | 6,724.49 | 6,828.54 | 6,892.82 | 6,996.86 | 7,100.91 | 7,165.19 | 7,269.23 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 66.91 | |
| MACD (12,26,9): | 21.3500 | |
| Directional Movement: | 25.20 | |
| AROON (14): | 85.72 | |
| DEMA (21): | 7,145.59 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,121.00 | |
| Elder Ray (13): | 22.75 | |
| Super Trend (3,10): | 7,120.77 | |
| Zig ZAG (10): | 7,148.27 | |
| VORTEX (21): | 1.2000 | |
| Stochastique (14,3,5): | 79.11 | |
| TEMA (21): | 7,154.38 | |
| Williams %R (14): | -22.77 | |
| Chande Momentum Oscillator (20): | 69.37 | |
| Repulse (5,40,3): | -0.0300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 1.66 |
| MA7: | 7,092.88 | |
| MA20: | 7,018.82 | |
| MA50: | 6,931.25 | |
| MA100: | 6,891.70 | |
| MAexp7: | 7,143.30 | |
| MAexp20: | 7,119.68 | |
| MAexp50: | 7,088.63 | |
| MAexp100: | 7,057.01 | |
| Price / MA7: | +0.69% | |
| Price / MA20: | +1.75% | |
| Price / MA50: | +3.03% | |
| Price / MA100: | +3.63% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | +0.31% | |
| Price / MAexp50: | +0.75% | |
| Price / MAexp100: | +1.20% |
Quotes :
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15 min delayed data
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Euronext Indices
This member declared not having a position on this financial instrument or a related financial instrument.
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