BEL20 INDEX - Daily - Technical analysis published on 12/10/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
50%
17%
33%
My opinion
Bullish above 3,736.87 EUR
My targets
4,041.03 EUR (+3.22%)
4,176.88 EUR (+6.69%)
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 3,736.87 EUR. The buyers” bullish objective is set at 4,041.03 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 4,176.88 EUR. If there is any crossing, the next objective would be the resistance located at 4,756.82 EUR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. 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 BEL20 INDEX rating is 3,914.91 EUR. On the day, this instrument lost -0.70% and was traded between 3,904.18 EUR and 3,941.10 EUR over the period. The price is currently at +0.27% from its lowest and -0.66% from its highest.3,904.18
3,941.10
3,914.91
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of BEL20 INDEX in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, only 9 technical indicators out of 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 under support 3
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
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 | 3,545.30 | 3,736.87 | 3,910.22 | 3,914.91 | 4,041.03 | 4,176.88 | 4,756.82 |
| Change (%) | -9.44% | -4.55% | -0.12% | - | +3.22% | +6.69% | +21.51% |
| Change | -369.61 | -178.04 | -4.69 | - | +126.12 | +261.97 | +841.91 |
| Level | Intermediate | Intermediate | Major | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,907.23 | 3,916.33 | 3,929.42 | 3,938.52 | 3,951.61 | 3,960.71 | 3,973.80 |
| Camarilla | 3,936.41 | 3,938.44 | 3,940.48 | 3,942.51 | 3,944.54 | 3,946.58 | 3,948.61 |
| Woodie | 3,909.23 | 3,917.33 | 3,931.42 | 3,939.52 | 3,953.61 | 3,961.71 | 3,975.80 |
| Fibonacci | 3,916.33 | 3,924.81 | 3,930.04 | 3,938.52 | 3,947.00 | 3,952.23 | 3,960.71 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,751.67 | 3,790.86 | 3,859.96 | 3,899.15 | 3,968.25 | 4,007.44 | 4,076.54 |
| Camarilla | 3,899.27 | 3,909.20 | 3,919.12 | 3,929.05 | 3,938.98 | 3,948.90 | 3,958.83 |
| Woodie | 3,766.62 | 3,798.34 | 3,874.91 | 3,906.63 | 3,983.20 | 4,014.92 | 4,091.49 |
| Fibonacci | 3,790.86 | 3,832.23 | 3,857.79 | 3,899.15 | 3,940.52 | 3,966.08 | 4,007.44 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,648.13 | 3,707.48 | 3,807.08 | 3,866.43 | 3,966.03 | 4,025.38 | 4,124.98 |
| Camarilla | 3,862.97 | 3,877.54 | 3,892.11 | 3,906.68 | 3,921.25 | 3,935.82 | 3,950.39 |
| Woodie | 3,668.26 | 3,717.54 | 3,827.21 | 3,876.49 | 3,986.16 | 4,035.44 | 4,145.11 |
| Fibonacci | 3,707.48 | 3,768.20 | 3,805.71 | 3,866.43 | 3,927.15 | 3,964.66 | 4,025.38 |
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): | 58.57 | |
| MACD (12,26,9): | 26.2500 | |
| Directional Movement: | 2.72 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 3,925.43 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,836.83 | |
| Elder Ray (13): | 23.09 | |
| Super Trend (3,10): | 3,818.03 | |
| Zig ZAG (10): | 3,915.48 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 86.58 | |
| TEMA (21): | 3,916.37 | |
| Williams %R (14): | -27.52 | |
| Chande Momentum Oscillator (20): | 35.85 | |
| Repulse (5,40,3): | -0.2500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1100 | |
| Courbe Coppock: | 0.71 |
| MA7: | 3,895.46 | |
| MA20: | 3,895.28 | |
| MA50: | 3,808.36 | |
| MA100: | 3,709.93 | |
| MAexp7: | 3,908.81 | |
| MAexp20: | 3,887.51 | |
| MAexp50: | 3,823.58 | |
| MAexp100: | 3,747.73 | |
| Price / MA7: | +0.50% | |
| Price / MA20: | +0.50% | |
| Price / MA50: | +2.80% | |
| Price / MA100: | +5.53% | |
| Price / MAexp7: | +0.16% | |
| Price / MAexp20: | +0.70% | |
| Price / MAexp50: | +2.39% | |
| Price / MAexp100: | +4.46% |
This member declared not having a position on this financial instrument or a related financial instrument.
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