BEL SMALL INDEX - 1H - Technical analysis published on 09/06/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
33%
17%
50%
My opinion
Bearish under 8,862.28 EUR
My targets
8,719.68 EUR (-0.48%)
8,663.56 EUR (-1.12%)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on BEL SMALL INDEX as long as the price remains well below 8,862.28 EUR. The next bearish objective for sellers is set at 8,719.68 EUR. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 8,663.56 EUR. If there is any crossing, the next objective would be the support located at 8,629.95 EUR. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
3.8
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Additional analysis
Quotes
The BEL SMALL INDEX price is 8,761.42 EUR. On the day, this instrument lost -0.03% and was between 8,754.38 EUR and 8,815.05 EUR. This implies that the price is at +0.08% from its lowest and at -0.61% from its highest.8,754.38
8,815.05
8,761.42
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this BEL SMALL INDEX chart shows a bearish trend. 78.57% of the signals given by moving averages are bearish. The overall trend seems to be showing some signs of weakness, as do the tentative bearish signals from short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8,629.95 | 8,663.56 | 8,719.68 | 8,761.42 | 8,768.52 | 8,862.28 | 8,905.73 |
| Change (%) | -1.50% | -1.12% | -0.48% | - | +0.08% | +1.15% | +1.65% |
| Change | -131.47 | -97.86 | -41.74 | - | +7.10 | +100.86 | +144.31 |
| Level | Minor | Intermediate | Intermediate | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,675.21 | 8,708.00 | 8,735.88 | 8,768.67 | 8,796.55 | 8,829.34 | 8,857.22 |
| Camarilla | 8,747.08 | 8,752.64 | 8,758.20 | 8,763.76 | 8,769.32 | 8,774.88 | 8,780.44 |
| Woodie | 8,672.76 | 8,706.77 | 8,733.43 | 8,767.44 | 8,794.10 | 8,828.11 | 8,854.77 |
| Fibonacci | 8,708.00 | 8,731.18 | 8,745.49 | 8,768.67 | 8,791.85 | 8,806.16 | 8,829.34 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,679.55 | 8,750.00 | 8,819.46 | 8,889.91 | 8,959.37 | 9,029.82 | 9,099.28 |
| Camarilla | 8,850.44 | 8,863.26 | 8,876.09 | 8,888.91 | 8,901.74 | 8,914.56 | 8,927.39 |
| Woodie | 8,679.05 | 8,749.75 | 8,818.96 | 8,889.66 | 8,958.87 | 9,029.57 | 9,098.78 |
| Fibonacci | 8,750.00 | 8,803.45 | 8,836.47 | 8,889.91 | 8,943.36 | 8,976.38 | 9,029.82 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,789.91 | 8,038.30 | 8,463.60 | 8,711.99 | 9,137.29 | 9,385.68 | 9,810.98 |
| Camarilla | 8,703.65 | 8,765.40 | 8,827.16 | 8,888.91 | 8,950.67 | 9,012.42 | 9,074.18 |
| Woodie | 7,878.38 | 8,082.53 | 8,552.07 | 8,756.22 | 9,225.76 | 9,429.91 | 9,899.45 |
| Fibonacci | 8,038.30 | 8,295.65 | 8,454.64 | 8,711.99 | 8,969.34 | 9,128.33 | 9,385.68 |
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): | 45.18 | |
| MACD (12,26,9): | -5.8300 | |
| Directional Movement: | -0.34 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 8,770.67 | |
| Parabolic SAR (0,02-0,02-0,2): | 8,757.30 | |
| Elder Ray (13): | 3.94 | |
| Super Trend (3,10): | 8,822.01 | |
| Zig ZAG (10): | 8,772.84 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 51.99 | |
| TEMA (21): | 8,780.35 | |
| Williams %R (14): | -56.84 | |
| Chande Momentum Oscillator (20): | 20.63 | |
| Repulse (5,40,3): | -0.2400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.25 |
| MA7: | 8,818.29 | |
| MA20: | 8,788.48 | |
| MA50: | 8,726.39 | |
| MA100: | 8,882.93 | |
| MAexp7: | 8,779.94 | |
| MAexp20: | 8,782.55 | |
| MAexp50: | 8,803.55 | |
| MAexp100: | 8,805.48 | |
| Price / MA7: | -0.64% | |
| Price / MA20: | -0.31% | |
| Price / MA50: | +0.40% | |
| Price / MA100: | -1.37% | |
| Price / MAexp7: | -0.21% | |
| Price / MAexp20: | -0.24% | |
| Price / MAexp50: | -0.48% | |
| Price / MAexp100: | -0.50% |
Quotes :
-
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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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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