Market Review 15 June 2020

by Constantinos Loizou

The previous week

  • Dow Jones 30: -5.75%
  • Nasdaq 100: -1.59%
  • S&P 500: -4.79%

 

  • UK 100: -5.46%
  • IBEX 35: -7.58%
  • CAC 40: -6.25%

 

Today the Futures Indices opened with downside gap of 1.30%

 

  • Gold: +2.82%
  • Silver: +0.50%
  • Crude Oil: -9.58%

 

On the Charts

  • As we can observe on the SP 500 daily chart, the price has broken below the upward blue trendline
  • Today , the Index opened with gap to the downside
  • The price is now at 2952, below the 20 days Moving Average (black)
  • The price has broken the 23.6% Fibonacci Retracement Level (From 2185 to 3234)
  • A negative divergence has been observed on Awesome Oscillator, since the oscillator failed to create a higher top, like the price did. Also, its bar is now red
  • RSI has exited its overbought area at 80, and is now at 44
  • Considering the above we may see the price moving lower to 2,840, a price level which consists the 38.2% Fibonacci Retracement Level (From 2185 to 3234)
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