Daily analysis (10/3) is still unstable, but is there room for a turnaround? Looking forward to today's employment statistics!!
【Technical Analysis (Overall Rating: 2.3/5)】
Points
The candlestick pattern shows a trend reversal from decline to rise. Will it be able to rise by next week at the latest?
Is the moving average line in an upward trend in the medium to long term? However, in the short term, it still seems heavy on the upside.
Looking at the volatility and RSI overheating, there may continue to be unstable price movements in the future. However, in the medium term, there is room for upward movement as there is no overheating.
☆Market sentiment (2.5/5)
・Chart patterns
Short-term perspectiveShortly after the market opens, the candlestick chart fluctuates. It then declines, but gradually decreases with the formation of a support line.
Medium-term perspectiveFormation of a triangle consolidation pattern from the formation of the shoulder part of the Head and Shoulders pattern.
・Moving averages
Short-term:21/Dead cross occurred with the 50/75-day moving average lines. Towards the end of the market, the candlestick chart is supported by the 5-day moving average line.
Medium term:On the 200-day moving average line, many Golden Crosses occurred (5/21/50/75 days).Dead Cross occurred on the 21/50/75-day moving average lines. However, the candlestick chart is supported by the 21-day moving average.
→ The chart pattern shows a trend reversal from decline to rise. Will it be able to rise by at least next week? Are the moving average lines predominantly upward in the medium to long term? However, in the short term, it still seems heavy on the upside.
☆Trend (2.5/5)
- DMI
Recently, there has been a deadlock. Crosses are observed in the market at the end of the session with PDI/MDI/ADX indicators.
Currently, it seems to touch both up and down immediately, with no clear direction.
☆Volatility and overheating (2/5).
・RSI×MACD
RSI showed a sharp upward swing after the market opening, followed by a gradual smooth decline, trending around the mid-40s. It gradually rises towards the end but shows some overheating. MACD stayed at a low during the day but a golden cross occurred at the end of the market. It is a highly reliable golden cross from the negative zone.
・Historical Volatility
There was a sharp increase in volatility at the beginning of the market, but it gradually declined smoothly.
Considering the overheating of volatility and RSI, there may continue to be unstable price movements in the future. However, there is still upward potential in the medium term as there is no overheating seen.
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