OMG NETWORK - OMG/USD - Daily - Technical analysis published on 01/16/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
72%
11%
17%
My opinion
Bullish above 0.725714 USD
My targets
0.940000 USD (+22.08%)
1.047370 USD (+36.02%)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for OMISEGO - OMG/USD as long as the price remains well above 0.725714 USD. The buyers” bullish objective is set at 0.940000 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.047370 USD. If there is any crossing, the next objective would be the resistance located at 1.336000 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 0.940000 USD. On this resistance, against the trend traders who would like to go short on OMISEGO - OMG/USD with a bearish signal from their trading strategy, should not hesitate to act.
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
2.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The OMISEGO - OMG/USD rating is 0.770000 USD. The price registered a decrease of -1.28% on the session with the lowest point at 0.720000 USD and the highest point at 0.800000 USD. The deviation from the price is +6.94% for the low point and -3.75% for the high point.0.720000
0.800000
0.770000
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by OMISEGO - OMG/USD:
Technical
Technical analysis of this Daily chart of OMISEGO - OMG/USD indicates that the overall trend is slightly bearish. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend could quickly be reversed due to the strong bullish 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 adaptative moving average 100
Type : Bullish
Timeframe : Daily
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
White gravestone / inverted hammer
Type : Neutral
Timeframe : Daily
Long white line
Type : Bullish
Timeframe : Daily
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 0.725714 | 0.770000 | 1.047370 | 1.336000 | 1.730000 |
| Change (%) | -5.75% | - | +36.02% | +73.51% | +124.68% |
| Change | -0.044286 | - | +0.277370 | +0.566000 | +0.960000 |
| Level | Major | - | Major | Minor | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.426667 | 0.573333 | 0.676667 | 0.823333 | 0.926667 | 1.073333 | 1.176667 |
| Camarilla | 0.711250 | 0.734167 | 0.757083 | 0.780000 | 0.802917 | 0.825833 | 0.848750 |
| Woodie | 0.405000 | 0.562500 | 0.655000 | 0.812500 | 0.905000 | 1.062500 | 1.155000 |
| Fibonacci | 0.573333 | 0.668833 | 0.727833 | 0.823333 | 0.918833 | 0.977833 | 1.073333 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.466667 | 0.523333 | 0.596667 | 0.653333 | 0.726667 | 0.783333 | 0.856667 |
| Camarilla | 0.634250 | 0.646167 | 0.658083 | 0.670000 | 0.681917 | 0.693833 | 0.705750 |
| Woodie | 0.475000 | 0.527500 | 0.605000 | 0.657500 | 0.735000 | 0.787500 | 0.865000 |
| Fibonacci | 0.523333 | 0.572993 | 0.603673 | 0.653333 | 0.702993 | 0.733673 | 0.783333 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.230000 | 0.400000 | 0.500000 | 0.670000 | 0.770000 | 0.940000 | 1.040000 |
| Camarilla | 0.525750 | 0.550500 | 0.575250 | 0.600000 | 0.624750 | 0.649500 | 0.674250 |
| Woodie | 0.195000 | 0.382500 | 0.465000 | 0.652500 | 0.735000 | 0.922500 | 1.005000 |
| Fibonacci | 0.400000 | 0.503140 | 0.566860 | 0.670000 | 0.773140 | 0.836860 | 0.940000 |
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): | 61.21 | |
| MACD (12,26,9): | 0.0172 | |
| Directional Movement: | 21.478919 | |
| AROON (14): | 92.857140 | |
| DEMA (21): | 0.694822 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.660000 | |
| Elder Ray (13): | 0.065405 | |
| Super Trend (3,10): | 0.603358 | |
| Zig ZAG (10): | 0.760000 | |
| VORTEX (21): | 1.0833 | |
| Stochastique (14,3,5): | 65.84 | |
| TEMA (21): | 0.733667 | |
| Williams %R (14): | -51.22 | |
| Chande Momentum Oscillator (20): | 0.080000 | |
| Repulse (5,40,3): | -0.1903 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0054 | |
| Courbe Coppock: | 29.26 |
| MA7: | 0.708571 | |
| MA20: | 0.661000 | |
| MA50: | 0.680600 | |
| MA100: | 0.786700 | |
| MAexp7: | 0.719625 | |
| MAexp20: | 0.682319 | |
| MAexp50: | 0.705171 | |
| MAexp100: | 0.805343 | |
| Price / MA7: | +8.67% | |
| Price / MA20: | +16.49% | |
| Price / MA50: | +13.14% | |
| Price / MA100: | -2.12% | |
| Price / MAexp7: | +7.00% | |
| Price / MAexp20: | +12.85% | |
| Price / MAexp50: | +9.19% | |
| Price / MAexp100: | -4.39% |
This member declared not having a position on this financial instrument or a related financial instrument.
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