BEL20 INDEX - Daily - Technical analysis published on 05/13/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Bearish
De fond:
Strongly bearish
Technical indicators
28%
39%
33%
My opinion
Bearish under 3,152.62 EUR
My targets
2,909.50 EUR (-2.98%)
2,770.81 EUR (-7.61%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BEL20 INDEX as long as the price remains well below 3,152.62 EUR. The next bearish objective for sellers is set at 2,909.50 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2,770.81 EUR. If there is any crossing, the next objective would be the support located at 2,528.77 EUR. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
FORCE
0
10
5
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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 BEL20 INDEX rating is 2,998.99 EUR. The price registered an increase of -2.24% on the session with the lowest point at 2,996.45 EUR and the highest point at 3,029.68 EUR. The deviation from the price is +0.08% for the low point and -1.01% for the high point.2,996.45
3,029.68
2,998.99
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of BEL20 INDEX indicates that the overall trend is strongly bearish. 82.14% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2,528.77 | 2,770.81 | 2,909.50 | 2,998.99 | 3,152.62 | 3,436.30 | 3,741.40 |
| Change (%) | -15.68% | -7.61% | -2.98% | - | +5.12% | +14.58% | +24.76% |
| Change | -470.22 | -228.18 | -89.49 | - | +153.63 | +437.31 | +742.41 |
| Level | Major | Major | Major | - | Major | Intermediate | 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 | 3,015.62 | 3,030.49 | 3,049.15 | 3,064.02 | 3,082.68 | 3,097.55 | 3,116.21 |
| Camarilla | 3,058.58 | 3,061.65 | 3,064.73 | 3,067.80 | 3,070.87 | 3,073.95 | 3,077.02 |
| Woodie | 3,017.51 | 3,031.44 | 3,051.04 | 3,064.97 | 3,084.57 | 3,098.50 | 3,118.10 |
| Fibonacci | 3,030.49 | 3,043.30 | 3,051.22 | 3,064.02 | 3,076.83 | 3,084.75 | 3,097.55 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,811.92 | 2,878.32 | 2,968.49 | 3,034.89 | 3,125.06 | 3,191.46 | 3,281.63 |
| Camarilla | 3,015.60 | 3,029.96 | 3,044.31 | 3,058.66 | 3,073.01 | 3,087.36 | 3,101.72 |
| Woodie | 2,823.81 | 2,884.26 | 2,980.38 | 3,040.83 | 3,136.95 | 3,197.40 | 3,293.52 |
| Fibonacci | 2,878.32 | 2,938.13 | 2,975.08 | 3,034.89 | 3,094.70 | 3,131.65 | 3,191.46 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,486.62 | 2,653.67 | 2,876.40 | 3,043.45 | 3,266.18 | 3,433.23 | 3,655.96 |
| Camarilla | 2,991.93 | 3,027.66 | 3,063.39 | 3,099.12 | 3,134.85 | 3,170.58 | 3,206.31 |
| Woodie | 2,514.45 | 2,667.59 | 2,904.23 | 3,057.37 | 3,294.01 | 3,447.15 | 3,683.79 |
| Fibonacci | 2,653.67 | 2,802.57 | 2,894.56 | 3,043.45 | 3,192.35 | 3,284.34 | 3,433.23 |
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): | 47.81 | |
| MACD (12,26,9): | 1.1900 | |
| Directional Movement: | 1.48 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 3,020.48 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,210.51 | |
| Elder Ray (13): | -19.75 | |
| Super Trend (3,10): | 2,870.58 | |
| Zig ZAG (10): | 2,999.95 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 41.37 | |
| TEMA (21): | 3,083.62 | |
| Williams %R (14): | -77.45 | |
| Chande Momentum Oscillator (20): | 57.17 | |
| Repulse (5,40,3): | -1.3000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 4.01 |
| MA7: | 3,034.84 | |
| MA20: | 3,017.56 | |
| MA50: | 2,996.72 | |
| MA100: | 3,498.02 | |
| MAexp7: | 3,037.42 | |
| MAexp20: | 3,026.86 | |
| MAexp50: | 3,129.69 | |
| MAexp100: | 3,331.17 | |
| Price / MA7: | -1.18% | |
| Price / MA20: | -0.62% | |
| Price / MA50: | +0.08% | |
| Price / MA100: | -14.27% | |
| Price / MAexp7: | -1.28% | |
| Price / MAexp20: | -0.93% | |
| Price / MAexp50: | -4.19% | |
| Price / MAexp100: | -9.98% |
This member declared not having a position on this financial instrument or a related financial instrument.
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