BEL20 INDEX - 1H - Technical analysis published on 07/19/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 3,697.32 EUR
My targets
3,780.81 EUR (+0.78%)
3,850.28 EUR (+2.64%)
My analysis
BEL20 INDEX is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 3,697.32 EUR. The next resistance located at 3,780.81 EUR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 3,850.28 EUR. After this resistance, buyers could then target 3,910.22 EUR. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.6
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Additional analysis
Quotes
BEL20 INDEX rating 3,751.40 EUR. On the day, this instrument gained +1.54% and was between 3,712.97 EUR and 3,764.57 EUR. This implies that the price is at +1.04% from its lowest and at -0.35% from its highest.3,712.97
3,764.57
3,751.40
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BEL20 INDEX indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 14 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,592.40 | 3,637.26 | 3,697.32 | 3,751.40 | 3,754.41 | 3,850.28 | 3,910.22 |
| Change (%) | -4.24% | -3.04% | -1.44% | - | +0.08% | +2.64% | +4.23% |
| Change | -159.00 | -114.14 | -54.08 | - | +3.01 | +98.88 | +158.82 |
| Level | Minor | Major | Intermediate | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,669.79 | 3,691.38 | 3,721.39 | 3,742.98 | 3,772.99 | 3,794.58 | 3,824.59 |
| Camarilla | 3,737.21 | 3,741.94 | 3,746.67 | 3,751.40 | 3,756.13 | 3,760.86 | 3,765.59 |
| Woodie | 3,674.00 | 3,693.49 | 3,725.60 | 3,745.09 | 3,777.20 | 3,796.69 | 3,828.80 |
| Fibonacci | 3,691.38 | 3,711.09 | 3,723.27 | 3,742.98 | 3,762.69 | 3,774.87 | 3,794.58 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,398.00 | 3,442.69 | 3,503.02 | 3,547.71 | 3,608.04 | 3,652.73 | 3,713.06 |
| Camarilla | 3,534.47 | 3,544.10 | 3,553.72 | 3,563.35 | 3,572.98 | 3,582.60 | 3,592.23 |
| Woodie | 3,405.82 | 3,446.60 | 3,510.84 | 3,551.62 | 3,615.86 | 3,656.64 | 3,720.88 |
| Fibonacci | 3,442.69 | 3,482.81 | 3,507.59 | 3,547.71 | 3,587.83 | 3,612.61 | 3,652.73 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,226.43 | 3,345.25 | 3,444.21 | 3,563.03 | 3,661.99 | 3,780.81 | 3,879.77 |
| Camarilla | 3,483.29 | 3,503.25 | 3,523.22 | 3,543.18 | 3,563.14 | 3,583.11 | 3,603.07 |
| Woodie | 3,216.51 | 3,340.29 | 3,434.29 | 3,558.07 | 3,652.07 | 3,775.85 | 3,869.85 |
| Fibonacci | 3,345.25 | 3,428.44 | 3,479.84 | 3,563.03 | 3,646.22 | 3,697.62 | 3,780.81 |
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): | 72.04 | |
| MACD (12,26,9): | 32.0200 | |
| Directional Movement: | 34.83 | |
| AROON (14): | 85.72 | |
| DEMA (21): | 3,758.12 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,711.87 | |
| Elder Ray (13): | 24.19 | |
| Super Trend (3,10): | 3,718.13 | |
| Zig ZAG (10): | 3,751.40 | |
| VORTEX (21): | 1.2400 | |
| Stochastique (14,3,5): | 93.22 | |
| TEMA (21): | 3,762.54 | |
| Williams %R (14): | -15.32 | |
| Chande Momentum Oscillator (20): | 69.02 | |
| Repulse (5,40,3): | 0.1100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1300 | |
| Courbe Coppock: | 3.36 |
| MA7: | 3,625.12 | |
| MA20: | 3,556.39 | |
| MA50: | 3,615.42 | |
| MA100: | 3,695.21 | |
| MAexp7: | 3,745.06 | |
| MAexp20: | 3,715.19 | |
| MAexp50: | 3,660.09 | |
| MAexp100: | 3,616.17 | |
| Price / MA7: | +3.48% | |
| Price / MA20: | +5.48% | |
| Price / MA50: | +3.76% | |
| Price / MA100: | +1.52% | |
| Price / MAexp7: | +0.17% | |
| Price / MAexp20: | +0.97% | |
| Price / MAexp50: | +2.49% | |
| Price / MAexp100: | +3.74% |
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.
About author
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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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