BEL20 INDEX - 1H - Technical analysis published on 04/24/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Bearish
De fond:
Strongly bearish
Technical indicators
33%
33%
33%
My opinion
Bearish under 3,025.95 EUR
My targets
2,917.39 EUR (-1.02%)
2,822.71 EUR (-4.23%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BEL20 INDEX as long as the price remains well below 3,025.95 EUR. The next bearish objective for sellers is set at 2,917.39 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2,822.71 EUR. If there is any crossing, the next objective would be the support located at 2,770.81 EUR. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
FORCE
0
10
4.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BEL20 INDEX rating is 2,947.39 EUR. On the day, this instrument lost -2.33% and was traded between 2,942.37 EUR and 2,968.64 EUR over the period. The price is currently at +0.17% from its lowest and -0.72% from its highest.2,942.37
2,968.64
2,947.39
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of BEL20 INDEX in 1H shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bearish signals that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2,770.81 | 2,822.71 | 2,917.39 | 2,947.39 | 3,037.79 | 3,152.62 | 3,436.30 |
| Change (%) | -5.99% | -4.23% | -1.02% | - | +3.07% | +6.96% | +16.59% |
| Change | -176.58 | -124.68 | -30.00 | - | +90.40 | +205.23 | +488.91 |
| Level | Major | Minor | Major | - | Intermediate | Major | 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 | 2,862.30 | 2,901.56 | 2,959.66 | 2,998.92 | 3,057.02 | 3,096.28 | 3,154.38 |
| Camarilla | 2,990.99 | 2,999.91 | 3,008.84 | 3,017.76 | 3,026.69 | 3,035.61 | 3,044.53 |
| Woodie | 2,871.72 | 2,906.27 | 2,969.08 | 3,003.63 | 3,066.44 | 3,100.99 | 3,163.80 |
| Fibonacci | 2,901.56 | 2,938.75 | 2,961.73 | 2,998.92 | 3,036.11 | 3,059.09 | 3,096.28 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,686.02 | 2,802.84 | 2,909.13 | 3,025.95 | 3,132.24 | 3,249.06 | 3,355.35 |
| Camarilla | 2,954.06 | 2,974.51 | 2,994.96 | 3,015.41 | 3,035.86 | 3,056.31 | 3,076.77 |
| Woodie | 2,680.75 | 2,800.21 | 2,903.86 | 3,023.32 | 3,126.97 | 3,246.43 | 3,350.08 |
| Fibonacci | 2,802.84 | 2,888.07 | 2,940.73 | 3,025.95 | 3,111.18 | 3,163.84 | 3,249.06 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,080.12 | 1,743.43 | 2,322.51 | 2,985.82 | 3,564.90 | 4,228.21 | 4,807.29 |
| Camarilla | 2,559.92 | 2,673.81 | 2,787.69 | 2,901.58 | 3,015.47 | 3,129.35 | 3,243.24 |
| Woodie | 1,038.00 | 1,722.37 | 2,280.39 | 2,964.76 | 3,522.78 | 4,207.15 | 4,765.17 |
| Fibonacci | 1,743.43 | 2,218.03 | 2,511.23 | 2,985.82 | 3,460.42 | 3,753.62 | 4,228.21 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 45.42 | |
| MACD (12,26,9): | 7.2500 | |
| Directional Movement: | 0.68 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 2,974.79 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,038.18 | |
| Elder Ray (13): | -18.34 | |
| Super Trend (3,10): | 3,035.85 | |
| Zig ZAG (10): | 2,947.39 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 65.97 | |
| TEMA (21): | 2,987.95 | |
| Williams %R (14): | -75.85 | |
| Chande Momentum Oscillator (20): | 13.99 | |
| Repulse (5,40,3): | -0.2000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 3.76 |
| MA7: | 2,969.19 | |
| MA20: | 2,955.16 | |
| MA50: | 3,219.28 | |
| MA100: | 3,601.69 | |
| MAexp7: | 2,981.62 | |
| MAexp20: | 2,968.94 | |
| MAexp50: | 2,970.55 | |
| MAexp100: | 2,964.03 | |
| Price / MA7: | -0.73% | |
| Price / MA20: | -0.26% | |
| Price / MA50: | -8.45% | |
| Price / MA100: | -18.17% | |
| Price / MAexp7: | -1.15% | |
| Price / MAexp20: | -0.73% | |
| Price / MAexp50: | -0.78% | |
| Price / MAexp100: | -0.56% |
This member declared not having a position on this financial instrument or a related financial instrument.
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