Technical analysis of the QSE index
The QSE index fell 1.2% during the week to a level of 8,922.72. Currently, the index is experiencing a downward trend and is expected to fall further in the near future. The MACD line dipped below the signal line which indicates weakness in the index. Our support level remains at 8,670 and resistance level remains at 9,716.
Definitions of key terms used in technical analysis
Candlestick chart – A candlestick chart is a price chart that displays the high, low, open, and close for a security. The ‘body’ of the chart is portion between the open and close price, while the high and low intraday movements form the ‘shadow’. The candlestick may represent any time frame. We use a one-day candlestick chart (every candlestick represents one trading day) in our analysis.
Doji candlestick pattern – A Doji candlestick is formed when a security’s open and close are practically equal. The pattern indicates indecisiveness, and based on preceding price actions and future confirmation, may indicate a bullish or bearish trend reversal.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Trump threatens tariffs on all $500bn of imports from China
Turkey’s Tupras reduces crude purchases from Iran since May
Europe markets end lower on currency war fears
Swiss and German companies join US drug price freeze
Telia announces a $1bn deal to buy Bonnier Broadcasting
BoJ’s inflation target dims as prices barely budge
Trump criticises Fed interest rate policy despite strong economy
Modi, Xi to discuss US trade war at Brics meet
Taiwan’s export orders fall as trade war casts a shadow