BEL20 INDEX - 1H - Technical analysis published on 07/31/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
50%
11%
39%
My opinion
Bullish above 3,754.41 EUR
My targets
3,805.96 EUR (+0.48%)
3,850.28 EUR (+1.65%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 3,754.41 EUR remains possible. It is advisable to trade BEL20 INDEX with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 3,754.41 EUR. The next bullish objective for buyers is set at 3,805.96 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 3,850.28 EUR. If there is any crossing, the next objective would be the resistance located at 3,910.22 EUR. PS: if there is a bearish break in the support located at 3,754.41 EUR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
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
3.8
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Additional analysis
Quotes
BEL20 INDEX rating 3,787.80 EUR. The price is lower by -0.02% since the last closing with the lowest point at 3,747.27 EUR and the highest point at 3,789.54 EUR. The deviation from the price is +1.08% for the low point and -0.05% for the high point.3,747.27
3,789.54
3,787.80
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
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:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of BEL20 INDEX in 1H shows an overall bullish trend. The signals given by moving averages are 67.86% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a slightly bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
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 | 3,637.26 | 3,697.32 | 3,754.41 | 3,787.80 | 3,805.96 | 3,850.28 | 3,910.22 |
| Change (%) | -3.97% | -2.39% | -0.88% | - | +0.48% | +1.65% | +3.23% |
| Change | -150.54 | -90.48 | -33.39 | - | +18.16 | +62.48 | +122.42 |
| Level | Major | Minor | Intermediate | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,751.76 | 3,761.43 | 3,774.91 | 3,784.58 | 3,798.06 | 3,807.73 | 3,821.21 |
| Camarilla | 3,782.02 | 3,784.15 | 3,786.27 | 3,788.39 | 3,790.51 | 3,792.63 | 3,794.76 |
| Woodie | 3,753.67 | 3,762.38 | 3,776.82 | 3,785.53 | 3,799.97 | 3,808.68 | 3,823.12 |
| Fibonacci | 3,761.43 | 3,770.27 | 3,775.74 | 3,784.58 | 3,793.42 | 3,798.89 | 3,807.73 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,700.99 | 3,732.42 | 3,760.40 | 3,791.83 | 3,819.81 | 3,851.24 | 3,879.22 |
| Camarilla | 3,772.05 | 3,777.50 | 3,782.94 | 3,788.39 | 3,793.84 | 3,799.28 | 3,804.73 |
| Woodie | 3,699.28 | 3,731.56 | 3,758.69 | 3,790.97 | 3,818.10 | 3,850.38 | 3,877.51 |
| Fibonacci | 3,732.42 | 3,755.11 | 3,769.13 | 3,791.83 | 3,814.52 | 3,828.54 | 3,851.24 |
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 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): | 48.12 | |
| MACD (12,26,9): | -2.8600 | |
| Directional Movement: | -14.47 | |
| AROON (14): | -7.14 | |
| DEMA (21): | 3,783.24 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,787.68 | |
| Elder Ray (13): | -0.64 | |
| Super Trend (3,10): | 3,801.30 | |
| Zig ZAG (10): | 3,787.84 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 86.63 | |
| TEMA (21): | 3,780.01 | |
| Williams %R (14): | -9.34 | |
| Chande Momentum Oscillator (20): | 6.26 | |
| Repulse (5,40,3): | 0.2400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.44 |
| MA7: | 3,796.08 | |
| MA20: | 3,666.80 | |
| MA50: | 3,626.44 | |
| MA100: | 3,688.49 | |
| MAexp7: | 3,785.29 | |
| MAexp20: | 3,786.99 | |
| MAexp50: | 3,782.88 | |
| MAexp100: | 3,747.55 | |
| Price / MA7: | -0.22% | |
| Price / MA20: | +3.30% | |
| Price / MA50: | +4.45% | |
| Price / MA100: | +2.69% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | +1.07% |
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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