Meanwhile, the index is trading below the lower Bollinger Band and the momentum indicators
are oversold, hinting a short term recovery cannot be ruled out.
Shires Income said that although its financial year saw a strong start, the market shifted at the end of September, with a sharp sell-off in markets on negative economic data, downgraded European and UK GDP expectations, and deteriorating momentum indicators
from economies such as China.
candle charts, momentum indicators
, oscillators) are suitable for studying attention pricing, which opens the door to the development of formal frameworks to operate in popularity markets.
A supply of dollars stemming the oil price surge has been partly attributed to the greenback's correction in some market narratives, coinciding with momentum indicators
in EUR-USD, Cable and other pairings flashing "dollar overbought" signals.
The upside-bias outlook is also reinforced by the positive trending of momentum indicators
,' he added.
There are certain momentum indicators
, which show oversold positions on the dollar.
As always the price is the lead indicator, and a close above the second resistance (US$8,374) would override the bearish momentum indicators
'However, one may note that momentum indicators
are at overbought territory and volume is declining,' Ravelas said, explaining this could be 'an early indication that the market may be nearing a top.'
remain bearish and the index is moving away below its moving averages.
Plus we were visibly posting positive momentum indicators
showing that measurable progress was well under way.
The net change in score came from a decrease in the liquidity, valuation and earnings momentum indicators
, offset by an increase in the technical indicators.
Bearish momentum indicators
for gold have accelerated, and a sustained break below $1,232 could take gold near $1,180, technical analysts at ScotiaMocatta said.