This weekly Trend Analysis table uses a proprietary algorithm to identify trend direction, strength of trend, & entry/exit signals. It also indicates key support/ resistance levels based on traditional technical analysis.
Last weekend it was mentioned in this weekly report that some major trend reversals are forming, and the week did saw upward movements in Gold, crude oil, and EUR/USD. There are increasing possibilities of end of their long term downtrend. As mentioned earlier, Russian index RTSI has also bounced riding on crude and S&P 500 has maintained its uptrend.
Abbreviations used -
- PCP = Previous closing price
- S2 = Second support, S1 = First support
- R1 = First resistance, R2 = Second resistance