Volkswagen reaches support zone

Source: Dukascopy Bank SA


During the last week of November, the stock price of Volkswagen reached the support zone that surrounds the 160.00 mark. Namely, the 156.90/163.75 zone was reached. This zone has been impacting the price of the company each time that it has been reached. An increase of volatility at that level can be spotted as far as 2015. More recently, the zone has been acting as resistance and support in 2019 and 2020.

Meanwhile, it has been spotted that since a failed attempt to book a new all-time-high level on June 2, the stock price has been declining in a channel down pattern. Recently, the lower trend line of the pattern passed the 156.90/163.75 zone.

At the start of December, the rate started a recovery from the support levels. A potential target for the stock price could be the resistance of the 50-day simple moving average near 186.00. Above the SMA, the upper trend line of the channel down pattern might cause a decline.

On the other hand, a potential decline would find support in the 156.90/163.75 zone and the lower trend line of the channel down pattern. A potential move below the 156.90 level could result in a drop to the 2020 summer low levels at 123.65/126.30.
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Tue, 07 Dec 2021 10:43:30 GMT

Hong Kong index approaches low levels

Since February, the Hong Kong 40 index has been declining in a channel down pattern. Most recently, on November 16, the stock index bounced off the upper trend line of the pattern. During the first week of December trading, the price fluctuated sideways near the 23,500.00 level. Meanwhile, the 2020 September low level was acting as support at 23,000.00.

Fri, 03 Dec 2021 09:01:32 GMT

Silver breaks pattern

The resistance of the 200-day simple moving average provided the price of silver with resistance in the middle of November. The resistance was enough to cause a decline, which broke the two-month channel up pattern and passed below the support of the 50-day simple moving average. On December 3, the price had almost reached the 2020 summer and 2021

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