US tech stock book new 2023 high

Source: Dukascopy Bank SA


In late October, global stock indices found support and started a recovery. On the US Tech stock index it took the form of the stocks finding support in the 13,890.00/14,170.00 range and a recovery that broke through the 15,250.00/15,500.00 range and the prior 2023 high level of 15,950.00. More recently, the 16,000.00 mark was also passed.

An extension of the ongoing decline is set to face the all time-high level zone of the index of late 2021 at 16,600.00/16,770.00. Breaking of the range would result in new all time highs.

However, news of a recession or increased US monetary tightening due to increasing inflation would cause a decline of the index. The index would then look for support in the 15,250.00/15,500.00 range. Further below, take into account the ascending 50 and 200-day simple moving averages near 15,000.00 and 14,650.00. Below the moving averages, the 13,890.00/14,170.00 zone would once again come into play.
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Thu, 23 Nov 2023 16:08:12 GMT

Japanese stocks test high levels

After finding support in the 30,400.00/30,600.00 range, the Japanese stock index has ascended to the early summer high levels and the 34,000.00 mark. The future outlook depends on whether this level holds. A move above 34,000.00 is set to result in the index booking new all time high levels. Watch out for round levels that could impact the index. However, a

Wed, 22 Nov 2023 12:05:07 GMT

German stocks face resistance

The top 40 German stock index found support in the 14,600.00/14,950.00 range in late October. Since then, the equities have surged and recently found a resistance in the 16,000.00 mark. A move above 16,000.00 is set to face the resistance of the 16.300.00/16.500.00 range that combined the 2021 and 2023 high levels. If this range does not act as

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