BEL20 INDEX - 1H - Technical analysis published on 06/16/2020 (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:
Bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 3,353.74 EUR
My targets
3,436.30 EUR (+1.00%)
3,565.84 EUR (+4.81%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BEL20 INDEX as long as the price remains well above 3,353.74 EUR. The buyers” bullish objective is set at 3,436.30 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 3,565.84 EUR. If there is any crossing, the next objective would be the resistance located at 3,741.40 EUR.
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
6.1
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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 BEL20 INDEX rating is 3,402.12 EUR. The price has increased by +1.88% since the last closing with the lowest point at 3,388.73 EUR and the highest point at 3,425.03 EUR. The deviation from the price is +0.40% for the low point and -0.67% for the high point.3,388.73
3,425.03
3,402.12
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
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:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of BEL20 INDEX in 1H shows an overall bullish trend. 67.86% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
Moving Average bearish crossovers : MA50 & MA100
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,225.76 | 3,294.60 | 3,353.74 | 3,402.12 | 3,436.30 | 3,565.84 | 3,741.40 |
| Change (%) | -5.18% | -3.16% | -1.42% | - | +1.00% | +4.81% | +9.97% |
| Change | -176.36 | -107.52 | -48.38 | - | +34.18 | +163.72 | +339.28 |
| Level | Intermediate | Intermediate | Intermediate | - | 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 | 3,132.67 | 3,179.22 | 3,259.28 | 3,305.83 | 3,385.89 | 3,432.44 | 3,512.50 |
| Camarilla | 3,304.53 | 3,316.14 | 3,327.74 | 3,339.35 | 3,350.96 | 3,362.56 | 3,374.17 |
| Woodie | 3,149.44 | 3,187.60 | 3,276.05 | 3,314.21 | 3,402.66 | 3,440.82 | 3,529.27 |
| Fibonacci | 3,179.22 | 3,227.58 | 3,257.46 | 3,305.83 | 3,354.19 | 3,384.07 | 3,432.44 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,802.12 | 3,008.70 | 3,152.67 | 3,359.25 | 3,503.22 | 3,709.80 | 3,853.77 |
| Camarilla | 3,200.23 | 3,232.36 | 3,264.50 | 3,296.63 | 3,328.76 | 3,360.90 | 3,393.03 |
| Woodie | 2,770.81 | 2,993.05 | 3,121.36 | 3,343.60 | 3,471.91 | 3,694.15 | 3,822.46 |
| Fibonacci | 3,008.70 | 3,142.61 | 3,225.34 | 3,359.25 | 3,493.16 | 3,575.89 | 3,709.80 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,496.82 | 2,674.86 | 2,938.90 | 3,116.94 | 3,380.98 | 3,559.02 | 3,823.06 |
| Camarilla | 3,081.38 | 3,121.90 | 3,162.43 | 3,202.95 | 3,243.47 | 3,284.00 | 3,324.52 |
| Woodie | 2,539.83 | 2,696.36 | 2,981.91 | 3,138.44 | 3,423.99 | 3,580.52 | 3,866.07 |
| Fibonacci | 2,674.86 | 2,843.73 | 2,948.06 | 3,116.94 | 3,285.81 | 3,390.14 | 3,559.02 |
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): | 60.49 | |
| MACD (12,26,9): | -3.1100 | |
| Directional Movement: | 6.47 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 3,328.43 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,247.61 | |
| Elder Ray (13): | 54.27 | |
| Super Trend (3,10): | 3,292.27 | |
| Zig ZAG (10): | 3,407.38 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 88.11 | |
| TEMA (21): | 3,351.18 | |
| Williams %R (14): | -10.41 | |
| Chande Momentum Oscillator (20): | 104.47 | |
| Repulse (5,40,3): | 0.3100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0900 | |
| Courbe Coppock: | 2.04 |
| MA7: | 3,396.08 | |
| MA20: | 3,277.95 | |
| MA50: | 3,115.40 | |
| MA100: | 3,313.68 | |
| MAexp7: | 3,355.49 | |
| MAexp20: | 3,340.50 | |
| MAexp50: | 3,365.38 | |
| MAexp100: | 3,349.07 | |
| Price / MA7: | +0.18% | |
| Price / MA20: | +3.79% | |
| Price / MA50: | +9.20% | |
| Price / MA100: | +2.67% | |
| Price / MAexp7: | +1.39% | |
| Price / MAexp20: | +1.84% | |
| Price / MAexp50: | +1.09% | |
| Price / MAexp100: | +1.58% |
Quotes :
2020-06-16 08:27:00
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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.
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