BEL MID INDEX - 1H - Technical analysis published on 02/24/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
0%
50%
My opinion
Bearish under 6,666.69 EUR
My targets
6,511.77 EUR (-1.20%)
6,470.89 EUR (-1.82%)
My analysis
Has the basic bearish 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 bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 6,666.69 EUR remains possible. It is advisable to trade BEL MID INDEX with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 6,666.69 EUR. The next bearish objective for sellers is set at 6,511.77 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 6,470.89 EUR. In case of crossing, the next objective would be the support located at 6,408.47 EUR. PS: if there is a bullish break in the resistance located at 6,666.69 EUR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
0.5
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Additional analysis
Quotes
The BEL MID INDEX price is 6,591.06 EUR. The price is lower by -0.04% since the last closing with the lowest point at 6,582.27 EUR and the highest point at 6,630.74 EUR. The deviation from the price is +0.13% for the low point and -0.60% for the high point.6,582.27
6,630.74
6,591.06
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
Here is a more detailed summary of the historical variations registered by BEL MID INDEX:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of BEL MID INDEX indicates that the overall trend is bearish. The signals given by moving averages are 64.29% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is slight given the direction of the technical indicators.
The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
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 | 6,470.89 | 6,511.77 | 6,585.57 | 6,591.06 | 6,666.69 | 6,702.23 | 6,773.54 |
| Change (%) | -1.82% | -1.20% | -0.08% | - | +1.15% | +1.69% | +2.77% |
| Change | -120.17 | -79.29 | -5.49 | - | +75.63 | +111.17 | +182.48 |
| Level | Minor | Intermediate | Intermediate | - | Minor | 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 | 6,523.50 | 6,552.89 | 6,571.97 | 6,601.36 | 6,620.44 | 6,649.83 | 6,668.91 |
| Camarilla | 6,577.73 | 6,582.17 | 6,586.62 | 6,591.06 | 6,595.50 | 6,599.95 | 6,604.39 |
| Woodie | 6,518.36 | 6,550.31 | 6,566.83 | 6,598.78 | 6,615.30 | 6,647.25 | 6,663.77 |
| Fibonacci | 6,552.89 | 6,571.40 | 6,582.84 | 6,601.36 | 6,619.87 | 6,631.31 | 6,649.83 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,310.03 | 6,410.87 | 6,500.96 | 6,601.80 | 6,691.89 | 6,792.73 | 6,882.82 |
| Camarilla | 6,538.55 | 6,556.06 | 6,573.56 | 6,591.06 | 6,608.56 | 6,626.06 | 6,643.57 |
| Woodie | 6,304.67 | 6,408.18 | 6,495.60 | 6,599.11 | 6,686.53 | 6,790.04 | 6,877.46 |
| Fibonacci | 6,410.87 | 6,483.80 | 6,528.86 | 6,601.80 | 6,674.73 | 6,719.79 | 6,792.73 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,074.55 | 6,217.08 | 6,312.33 | 6,454.86 | 6,550.11 | 6,692.64 | 6,787.89 |
| Camarilla | 6,342.19 | 6,363.99 | 6,385.78 | 6,407.58 | 6,429.38 | 6,451.17 | 6,472.97 |
| Woodie | 6,050.91 | 6,205.26 | 6,288.69 | 6,443.04 | 6,526.47 | 6,680.82 | 6,764.25 |
| Fibonacci | 6,217.08 | 6,307.91 | 6,364.03 | 6,454.86 | 6,545.69 | 6,601.81 | 6,692.64 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 51.63 | |
| MACD (12,26,9): | 3.0800 | |
| Directional Movement: | 4.98 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 6,597.14 | |
| Parabolic SAR (0,02-0,02-0,2): | 6,628.82 | |
| Elder Ray (13): | 3.01 | |
| Super Trend (3,10): | 6,561.80 | |
| Zig ZAG (10): | 6,601.63 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 50.73 | |
| TEMA (21): | 6,608.72 | |
| Williams %R (14): | -40.72 | |
| Chande Momentum Oscillator (20): | 35.30 | |
| Repulse (5,40,3): | -0.0400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 1.12 |
| MA7: | 6,618.11 | |
| MA20: | 6,577.19 | |
| MA50: | 6,480.87 | |
| MA100: | 6,316.70 | |
| MAexp7: | 6,601.64 | |
| MAexp20: | 6,595.60 | |
| MAexp50: | 6,602.22 | |
| MAexp100: | 6,600.07 | |
| Price / MA7: | -0.41% | |
| Price / MA20: | +0.21% | |
| Price / MA50: | +1.70% | |
| Price / MA100: | +4.34% | |
| Price / MAexp7: | -0.16% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.17% | |
| Price / MAexp100: | -0.14% |
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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