CRB Textiles index closed up by 0.52% to 331.68 on 23 January 2021 and +1.7% on a weekly basis. CRB Textiles index momentum was last calculated at +100.0/100 indicating positive momentum. CRB Textiles index trend is +75.0/100 indicating a positive trend. CRB Textiles index momentum exhaustion is -0.08646 indicating CRB Textiles index is oversold.CRB Textiles index RSI is 71.5271 .
CRB Textiles index Chart
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CRB Textiles index closed at 331.68 on 23 January 2021. CRB Textiles index trend was last calculated at +75.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. CRB Textiles index momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. CRB Textiles index momentum exhaustion is -0.08646 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating CRB Textiles index is oversold and a possible reversal is imminent. CRB Textiles index RSI was last calculated at 71.5271. CRB Textiles index moving averages were last recorded as follows: 1-month moving average: 301.042 in an uptrend , 1-quarter moving average: 296.345 in an uptrend and 1-year moving average: 313.519 in an uptrend. CRB Textiles index annual return was last recorded at None%, daily return was last recorded at 0.52%, and weekly return was last recorded at 1.7%. CRB Textiles index histrorical 20-day volatility was last recorded at 4.83276%, CRB Textiles index alpha None, CRB Textiles index beta None and CRB Textiles index maximum drawdown was recorded at None%. MacroVar models monitor CRB Textiles index statistics based on historical data since 1970.
Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.
MacroVar CRB Textiles index momentum signal ranges from -100 to +100. The
CRB Textiles index momentum signal is derived as the mean value from 4 calculations for the China Import Dry Bulk Freight Index CDFI. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. CRB Textiles index return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. CRB Textiles index BADI momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when CRB Textiles index momentum signal moves from positive to negative value or vice-versa.
CRB Textiles index Trend
CRB Textiles index trend signal ranges from -100 to +100. CRB Textiles index trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. CRB Textiles index Closing price vs CRB Textiles index moving average (MA) calculation: If CRB Textiles index is greater than CRB Textiles index MA value is +1, else -1, 2. CRB Textiles index Moving average slope calculation: if current CRB Textiles index moving average is higher than the previous MA, CRB Textiles index upward slope +1, else -1
CRB Textiles index trend model can be used as a trend strength indicator. CRB Textiles index trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when CRB Textiles index trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The CRB Textiles index 52-week simple moving average and its slope are the most important indicators defining a market’s trend. CRB Textiles index is in an uptrend when CRB Textiles index price is higher than the 52-week moving average and the CRB Textiles index 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the CRB Textiles index oscillator and CRB Textiles index RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
CRB Textiles index Oscillator
The CRB Textiles index oscillator estimated by MacroVar is the z-score of the current CRB Textiles index price versus CRB Textiles index 1-year simple moving average price. The formula for the CRB Textiles index oscillator is: CRB Textiles index oscillator = (Current Price – 250 trading days CRB Textiles index simple moving average price) / (250 days CRB Textiles index price standard deviation)
CRB Textiles index oversold conditions
CRB Textiles index is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the CRB Textiles index is oversold it is often due for a rebound. Values of the CRB Textiles index oscillator lower than -2.5 signify oversold conditions. It must be noted that the CRB Textiles index oscillator must be analyzed ibn conjunction with the rest of CRB Textiles index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the CRB Textiles index RSI.
CRB Textiles index overbought conditions
CRB Textiles index is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the CRB Textiles index is overbought it is often due for a correction. Values of the CRB Textiles index oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the CRB Textiles index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.
CRB Textiles index RSI Indicator
The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when CRB Textiles index is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During CRB Textiles index uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.
CRB Textiles index Returns
MacroVar calculates CRB Textiles index returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
CRB Textiles index returns = (CRB Textiles index Closing Price Previous Price)/(CRB Textiles index Previous Price)