MAKER - MKR/USD - Daily - Technical analysis published on 09/19/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
89%
0%
11%
My opinion
Bullish above 501.72 USD
My targets
612.48 USD (+13.20%)
709.98 USD (+31.23%)
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 MAKER - MKR/USD as long as the price remains well above 501.72 USD. The buyers” bullish objective is set at 612.48 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 709.98 USD. If there is any crossing, the next objective would be the resistance located at 772.71 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 612.48 USD. On this resistance, against the trend traders who would like to go short on MAKER - MKR/USD with a bearish signal from their trading strategy, should not hesitate to act.
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
3.2
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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
MAKER - MKR/USD rating 541.04 USD. The price has increased by +6.12% since the last closing with the lowest point at 509.90 USD and the highest point at 541.30 USD. The deviation from the price is +6.11% for the low point and -0.05% for the high point.509.90
541.30
541.04
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of MAKER - MKR/USD indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Daily
In fact, 16 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
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 : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
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 | 413.86 | 447.71 | 501.72 | 541.04 | 612.48 | 709.98 | 772.71 |
| Change (%) | -23.51% | -17.25% | -7.27% | - | +13.20% | +31.23% | +42.82% |
| Change | -127.18 | -93.33 | -39.32 | - | +71.44 | +168.94 | +231.67 |
| Level | Minor | Minor | Major | - | 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 | 442.96 | 472.35 | 491.10 | 520.49 | 539.24 | 568.63 | 587.38 |
| Camarilla | 496.62 | 501.03 | 505.45 | 509.86 | 514.27 | 518.69 | 523.10 |
| Woodie | 437.65 | 469.69 | 485.79 | 517.83 | 533.93 | 565.97 | 582.07 |
| Fibonacci | 472.35 | 490.74 | 502.10 | 520.49 | 538.88 | 550.24 | 568.63 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 377.45 | 405.33 | 437.72 | 465.60 | 497.99 | 525.87 | 558.26 |
| Camarilla | 453.54 | 459.06 | 464.59 | 470.11 | 475.64 | 481.16 | 486.68 |
| Woodie | 379.71 | 406.46 | 439.98 | 466.73 | 500.25 | 527.00 | 560.52 |
| Fibonacci | 405.33 | 428.35 | 442.58 | 465.60 | 488.62 | 502.85 | 525.87 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 222.57 | 327.10 | 402.56 | 507.09 | 582.55 | 687.08 | 762.54 |
| Camarilla | 428.53 | 445.03 | 461.53 | 478.03 | 494.53 | 511.03 | 527.53 |
| Woodie | 208.05 | 319.83 | 388.04 | 499.82 | 568.03 | 679.81 | 748.02 |
| Fibonacci | 327.10 | 395.85 | 438.33 | 507.09 | 575.84 | 618.32 | 687.08 |
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): | 60.34 | |
| MACD (12,26,9): | 2.8700 | |
| Directional Movement: | 9.07 | |
| AROON (14): | 85.72 | |
| DEMA (21): | 486.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 436.71 | |
| Elder Ray (13): | 34.10 | |
| Super Trend (3,10): | 548.37 | |
| Zig ZAG (10): | 541.30 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 86.39 | |
| TEMA (21): | 504.44 | |
| Williams %R (14): | -6.05 | |
| Chande Momentum Oscillator (20): | 102.60 | |
| Repulse (5,40,3): | 8.6800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.2400 | |
| Courbe Coppock: | 14.62 |
| MA7: | 494.96 | |
| MA20: | 475.88 | |
| MA50: | 501.52 | |
| MA100: | 577.86 | |
| MAexp7: | 503.66 | |
| MAexp20: | 488.31 | |
| MAexp50: | 509.40 | |
| MAexp100: | 547.80 | |
| Price / MA7: | +9.31% | |
| Price / MA20: | +13.69% | |
| Price / MA50: | +7.88% | |
| Price / MA100: | -6.37% | |
| Price / MAexp7: | +7.42% | |
| Price / MAexp20: | +10.80% | |
| Price / MAexp50: | +6.21% | |
| Price / MAexp100: | -1.23% |
This member declared not having a position on this financial instrument or a related financial instrument.
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