BEL20 INDEX - Daily - Technical analysis published on 05/22/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 3,850.66 EUR
My targets
3,601.81 EUR (-3.61%)
3,553.27 EUR (-4.91%)
My analysis
In the short term, we can see an acceleration in the bearish trend on BEL20 INDEX, which is a positive signal for sellers. As long as the price remains above 3,850.66 EUR, a sale could be considered. The first bearish objective is located at 3,601.81 EUR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 3,553.27 EUR as an objective. Crossing it would then enable sellers to target 3,313.82 EUR. If the price were to return above 3,850.66 EUR, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
4.5
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Additional analysis
Quotes
BEL20 INDEX rating 3,736.57 EUR. On the day, this instrument lost -0.01% with the lowest point at 3,717.86 EUR and the highest point at 3,749.17 EUR. The deviation from the price is +0.50% for the low point and -0.34% for the high point.3,717.86
3,749.17
3,736.57
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of BEL20 INDEX in Daily shows an overall bearish trend. The signals given by moving averages are 78.57% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 100
Type : Bullish
Timeframe : Daily
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,313.82 | 3,553.27 | 3,601.81 | 3,736.57 | 3,752.24 | 3,850.66 | 3,910.22 |
| Change (%) | -11.31% | -4.91% | -3.61% | - | +0.42% | +3.05% | +4.65% |
| Change | -422.75 | -183.30 | -134.76 | - | +15.67 | +114.09 | +173.65 |
| Level | Major | Major | 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 | 3,688.59 | 3,703.22 | 3,719.90 | 3,734.53 | 3,751.21 | 3,765.84 | 3,782.52 |
| Camarilla | 3,727.96 | 3,730.83 | 3,733.70 | 3,736.57 | 3,739.44 | 3,742.31 | 3,745.18 |
| Woodie | 3,689.61 | 3,703.73 | 3,720.92 | 3,735.04 | 3,752.23 | 3,766.35 | 3,783.54 |
| Fibonacci | 3,703.22 | 3,715.18 | 3,722.57 | 3,734.53 | 3,746.49 | 3,753.88 | 3,765.84 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,603.64 | 3,636.21 | 3,686.50 | 3,719.07 | 3,769.36 | 3,801.93 | 3,852.22 |
| Camarilla | 3,713.99 | 3,721.59 | 3,729.19 | 3,736.78 | 3,744.38 | 3,751.97 | 3,759.57 |
| Woodie | 3,612.49 | 3,640.64 | 3,695.35 | 3,723.50 | 3,778.21 | 3,806.36 | 3,861.07 |
| Fibonacci | 3,636.21 | 3,667.87 | 3,687.42 | 3,719.07 | 3,750.73 | 3,770.28 | 3,801.93 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,607.69 | 3,671.12 | 3,736.46 | 3,799.89 | 3,865.23 | 3,928.66 | 3,994.00 |
| Camarilla | 3,766.40 | 3,778.20 | 3,790.01 | 3,801.81 | 3,813.61 | 3,825.42 | 3,837.22 |
| Woodie | 3,608.66 | 3,671.60 | 3,737.43 | 3,800.37 | 3,866.20 | 3,929.14 | 3,994.97 |
| Fibonacci | 3,671.12 | 3,720.31 | 3,750.70 | 3,799.89 | 3,849.08 | 3,879.47 | 3,928.66 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 46.28 | |
| MACD (12,26,9): | -18.1600 | |
| Directional Movement: | -8.39 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 3,729.65 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,670.45 | |
| Elder Ray (13): | -6.61 | |
| Super Trend (3,10): | 3,802.86 | |
| Zig ZAG (10): | 3,736.57 | |
| VORTEX (21): | 0.7700 | |
| Stochastique (14,3,5): | 42.92 | |
| TEMA (21): | 3,716.69 | |
| Williams %R (14): | -50.59 | |
| Chande Momentum Oscillator (20): | -0.82 | |
| Repulse (5,40,3): | 0.2900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 3.53 |
| MA7: | 3,721.74 | |
| MA20: | 3,760.33 | |
| MA50: | 3,750.52 | |
| MA100: | 3,812.32 | |
| MAexp7: | 3,728.94 | |
| MAexp20: | 3,750.47 | |
| MAexp50: | 3,769.90 | |
| MAexp100: | 3,771.58 | |
| Price / MA7: | +0.40% | |
| Price / MA20: | -0.63% | |
| Price / MA50: | -0.37% | |
| Price / MA100: | -1.99% | |
| Price / MAexp7: | +0.20% | |
| Price / MAexp20: | -0.37% | |
| Price / MAexp50: | -0.88% | |
| Price / MAexp100: | -0.93% |
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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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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