MAKER - MKR/USD - 1H - Technical analysis published on 11/27/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 506.36 USD
My targets
550.77 USD (+1.94%)
612.02 USD (+13.27%)
My analysis
The bullish trend is currently very strong on MAKER - MKR/USD. As long as the price remains above the support at 506.36 USD, you could try to benefit from the boom. The first bullish objective is located at 550.77 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 612.02 USD as an objective. Crossing it would then enable buyers to target 660.44 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
7.1
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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 MAKER - MKR/USD rating is 540.31 USD. The price has increased by +3.98% since the last closing and was traded between 515.77 USD and 550.42 USD over the period. The price is currently at +4.76% from its lowest and -1.84% from its highest.515.77
550.42
540.31
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of MAKER - MKR/USD in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Long white line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 413.86 | 455.46 | 506.36 | 540.31 | 550.77 | 612.02 | 660.44 |
| Change (%) | -23.40% | -15.70% | -6.28% | - | +1.94% | +13.27% | +22.23% |
| Change | -126.45 | -84.85 | -33.95 | - | +10.46 | +71.71 | +120.13 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 464.27 | 484.73 | 502.18 | 522.64 | 540.09 | 560.55 | 578.00 |
| Camarilla | 509.22 | 512.69 | 516.17 | 519.64 | 523.12 | 526.59 | 530.07 |
| Woodie | 462.78 | 483.98 | 500.69 | 521.89 | 538.60 | 559.80 | 576.51 |
| Fibonacci | 484.73 | 499.21 | 508.16 | 522.64 | 537.12 | 546.07 | 560.55 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 225.18 | 335.71 | 446.50 | 557.03 | 667.82 | 778.35 | 889.14 |
| Camarilla | 496.43 | 516.72 | 537.00 | 557.29 | 577.58 | 597.87 | 618.15 |
| Woodie | 225.31 | 335.78 | 446.63 | 557.10 | 667.95 | 778.42 | 889.27 |
| Fibonacci | 335.71 | 420.25 | 472.49 | 557.03 | 641.57 | 693.81 | 778.35 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 172.03 | 269.76 | 402.38 | 500.11 | 632.73 | 730.46 | 863.08 |
| Camarilla | 471.66 | 492.78 | 513.90 | 535.01 | 556.13 | 577.24 | 598.36 |
| Woodie | 189.49 | 278.48 | 419.84 | 508.83 | 650.19 | 739.18 | 880.54 |
| Fibonacci | 269.76 | 357.75 | 412.11 | 500.11 | 588.10 | 642.46 | 730.46 |
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): | 56.48 | |
| MACD (12,26,9): | 5.4100 | |
| Directional Movement: | -3.98 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 540.20 | |
| Parabolic SAR (0,02-0,02-0,2): | 549.73 | |
| Elder Ray (13): | 4.72 | |
| Super Trend (3,10): | 525.75 | |
| Zig ZAG (10): | 540.31 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 59.78 | |
| TEMA (21): | 540.08 | |
| Williams %R (14): | -28.55 | |
| Chande Momentum Oscillator (20): | 24.84 | |
| Repulse (5,40,3): | 2.6200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1700 | |
| Courbe Coppock: | 4.16 |
| MA7: | 522.63 | |
| MA20: | 599.36 | |
| MA50: | 550.37 | |
| MA100: | 513.95 | |
| MAexp7: | 537.18 | |
| MAexp20: | 532.53 | |
| MAexp50: | 523.84 | |
| MAexp100: | 525.92 | |
| Price / MA7: | +3.38% | |
| Price / MA20: | -9.85% | |
| Price / MA50: | -1.83% | |
| Price / MA100: | +5.13% | |
| Price / MAexp7: | +0.58% | |
| Price / MAexp20: | +1.46% | |
| Price / MAexp50: | +3.14% | |
| Price / MAexp100: | +2.74% |
This member declared not having a position on this financial instrument or a related financial instrument.
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