Weekly Technical Analysis 04/12/2023

WEEKLY TECHNICAL ANALYSIS

Start your week by identifying the key price levels and trends.

The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.

BRENT CRUDE
Trend: Bearish to sideways, as indicated by fractals showing key swing points without a clear direction above or below the VWAP.

Candle Patterns: No significant patterns indicating a strong trend.

Support/Resistance: Support at 7772.4, resistance at 8363.2.

RSI: At 37, the RSI is in a bearish position, suggesting weakness but not yet oversold.

EUR/USD
Trend: Bullish, with upward fractals and prices above the VWAP.

Candle Patterns: Bullish fractals suggest strength in the upward movement.

Support/Resistance: Support at 1.0728, resistance at 1.1036.

RSI: With an RSI of 54, the momentum is bullish.

GBP/USD
Trend: Bullish, as prices are trading above the VWAP with upward fractals reinforcing the trend.

Candle Patterns: Bullish patterns align with the trend direction.

Support/Resistance: Support at 1.2246, resistance at 1.2804.

RSI: At 64, the RSI indicates bullish momentum.

GERMANY 40
Trend: Strongly bullish with consistent upward fractals above the VWAP.

Candle Patterns: Bullish candles support the strong uptrend.

Support/Resistance: Support at 15,293, resistance at 16,393.

RSI: The RSI at 79 is indicative of bullish strength.

GOLD
Trend: Bullish, with prices and fractals above the VWAP indicating upward momentum.

Candle Patterns: Bullish patterns are present.

Support/Resistance: Support at 2002.5, resistance at 2094.4.

RSI: An RSI of 64 suggests bullish momentum.

UK 100
Trend: Bullish with upward fractals above the VWAP.

Candle Patterns: The trend is supported by bullish candle formations.

Support/Resistance: Support at 7383.3, resistance at 7501.5.

RSI: The RSI at 54 indicates a bullish position.

USD/JPY
Trend: Bullish, with upward fractals above the VWAP.

Candle Patterns: Bullish candlesticks support the trend.

Support/Resistance: Support at 145.77, resistance at 150.63.

- RSI: An RSI of 36 shows a bearish position, indicating potential for upward movement.

WALL STREET
Trend: Bullish, with the index trading above the VWAP and recent upward fractals.

Candle Patterns: The bullish sentiment is confirmed by the candlestick patterns.

Support/Resistance: Support at 34,103, resistance at 36,304.

RSI: With an RSI of 78, the index shows strong bullish momentum.