US Tech stocks break pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The July surge of US tech stocks eventually broke the resistance line of the channel down pattern, which had guided the 2022 decline. The breaking of the pattern occurred due to the support of the 12,830.00/13,120.00 range. In mid-August, the pair had extended its surge above 13,500.00, before starting a decline. On August 23, the index had reached the lower boundary of the 12,830.00/13,120.00 zone.

In the case of the index declining below 12,830.00 it is expected that the 50-day simple moving average would act as short term support and strengthen the 12,500.00 level. Further below, note the 12,120.00/12,225.00 zone, which has acted as resistance and support during this summer.

On the other hand, a recovery of the global economy and the US tech sector could result in the rate testing round price levels until it reaches the 15,200.00/15,550.00 zone.
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Wed, 24 Aug 2022 12:29:26 GMT

USA30 index decline might reach 32,000.00

The top 30 US stock index has been recovering throughout July and August. However, on August 16, a decline started, which indicated that the larger scale surge is over. By August 24, the equity index had reached below the 33,000.00 mark. Next target for the decline could be the combination of the cluster of levels, which surround the 32,000.00 mark.

Tue, 23 Aug 2022 12:39:06 GMT

German stocks bounce off trend line

Since the last review of the top 40 German stock index on July 20, the index managed to reach above the resistance of the 13,500.00 mark. However, eventually, in mid-August the shares bounced off the resistance line, which connects the 2022 January and June high levels. The event was followed by a decline, which by August 23 had reached

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