STOXX Europe 600 Basic Resources

STOXX Europe 600 Basic Resources closed down by -2.09% to 592.26 on 23 January 2021 and +2.72% on a weekly basis. STOXX Europe 600 Basic Resources momentum was last calculated at +100.0/100 indicating positive momentum. STOXX Europe 600 Basic Resources trend is +100.0/100 indicating a positive trend. STOXX Europe 600 Basic Resources momentum exhaustion is 2.70432 indicating STOXX Europe 600 Basic Resources is overbought.STOXX Europe 600 Basic Resources RSI is 80.7603 .

STOXX Europe 600 Basic Resources Chart

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Date Value
03/12/2021 553,15
02/12/2021 567,51
01/12/2021 570,06
30/11/2021 557,32
29/11/2021 556,54
26/11/2021 546,10
25/11/2021 574,71
24/11/2021 576,14
23/11/2021 575,01
22/11/2021 571,44

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STOXX Europe 600 Basic Resources

STOXX Europe 600 Basic Resources Statistics

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
STOXX Europe 600 Basic Resources EU600.BASICRES 592.26 1 1 2.70432 80.7603 -2.09 2.72 -1.5 0.18163

STOXX Europe 600 Basic Resources closed at 592.26 on 23 January 2021. STOXX Europe 600 Basic Resources trend was last calculated at +100.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. STOXX Europe 600 Basic Resources momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. STOXX Europe 600 Basic Resources momentum exhaustion is 2.70432 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating STOXX Europe 600 Basic Resources is overbought and a possible reversal is imminent. STOXX Europe 600 Basic Resources RSI was last calculated at 80.7603. STOXX Europe 600 Basic Resources moving averages were last recorded as follows: 1-month moving average: 501.531 in an uptrend , 1-quarter moving average: 451.602 in an uptrend and 1-year moving average: 402.546 in an uptrend. STOXX Europe 600 Basic Resources annual return was last recorded at None%, daily return was last recorded at -2.09%, and weekly return was last recorded at 2.72%. STOXX Europe 600 Basic Resources histrorical 20-day volatility was last recorded at 22.722%, STOXX Europe 600 Basic Resources alpha None, STOXX Europe 600 Basic Resources beta None and STOXX Europe 600 Basic Resources maximum drawdown was recorded at None%. MacroVar models monitor STOXX Europe 600 Basic Resources statistics based on historical data since 1970.

STOXX Europe 600 Basic Resources News

STOXX Europe 600 Basic Resources Trading Signals

MacroVar estimates the following signals: STOXX Europe 600 Basic Resources momentum, STOXX Europe 600 Basic Resources trend, STOXX Europe 600 Basic Resources oscillator, STOXX Europe 600 Basic Resources RSI and STOXX Europe 600 Basic Resources returns.

STOXX Europe 600 Basic Resources Momentum

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 STOXX Europe 600 Basic Resources momentum signal ranges from -100 to +100. The STOXX Europe 600 Basic Resources 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. STOXX Europe 600 Basic Resources 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. STOXX Europe 600 Basic Resources BADI momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when STOXX Europe 600 Basic Resources momentum signal moves from positive to negative value or vice-versa.

STOXX Europe 600 Basic Resources Trend

STOXX Europe 600 Basic Resources trend signal ranges from -100 to +100. STOXX Europe 600 Basic Resources 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. STOXX Europe 600 Basic Resources Closing price vs STOXX Europe 600 Basic Resources moving average (MA) calculation: If STOXX Europe 600 Basic Resources is greater than STOXX Europe 600 Basic Resources MA value is +1, else -1, 2. STOXX Europe 600 Basic Resources Moving average slope calculation: if current STOXX Europe 600 Basic Resources moving average is higher than the previous MA, STOXX Europe 600 Basic Resources upward slope +1, else -1
STOXX Europe 600 Basic Resources trend model can be used as a trend strength indicator. STOXX Europe 600 Basic Resources trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when STOXX Europe 600 Basic Resources trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The STOXX Europe 600 Basic Resources 52-week simple moving average and its slope are the most important indicators defining a market’s trend. STOXX Europe 600 Basic Resources is in an uptrend when STOXX Europe 600 Basic Resources price is higher than the 52-week moving average and the STOXX Europe 600 Basic Resources 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 STOXX Europe 600 Basic Resources oscillator and STOXX Europe 600 Basic Resources RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

STOXX Europe 600 Basic Resources Oscillator

The STOXX Europe 600 Basic Resources oscillator estimated by MacroVar is the z-score of the current STOXX Europe 600 Basic Resources price versus STOXX Europe 600 Basic Resources 1-year simple moving average price. The formula for the STOXX Europe 600 Basic Resources oscillator is:
STOXX Europe 600 Basic Resources oscillator = (Current Price – 250 trading days STOXX Europe 600 Basic Resources simple moving average price) / (250 days STOXX Europe 600 Basic Resources price standard deviation)

STOXX Europe 600 Basic Resources oversold conditions
STOXX Europe 600 Basic Resources is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the STOXX Europe 600 Basic Resources is oversold it is often due for a rebound. Values of the STOXX Europe 600 Basic Resources oscillator lower than -2.5 signify oversold conditions. It must be noted that the STOXX Europe 600 Basic Resources oscillator must be analyzed ibn conjunction with the rest of STOXX Europe 600 Basic Resources 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 STOXX Europe 600 Basic Resources RSI.
STOXX Europe 600 Basic Resources overbought conditions
STOXX Europe 600 Basic Resources is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the STOXX Europe 600 Basic Resources is overbought it is often due for a correction. Values of the STOXX Europe 600 Basic Resources oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the STOXX Europe 600 Basic Resources 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.

STOXX Europe 600 Basic Resources 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 STOXX Europe 600 Basic Resources is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During STOXX Europe 600 Basic Resources 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.

STOXX Europe 600 Basic Resources Returns

MacroVar calculates STOXX Europe 600 Basic Resources returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

STOXX Europe 600 Basic Resources returns = (STOXX Europe 600 Basic Resources Closing Price Previous Price)/(STOXX Europe 600 Basic Resources Previous Price)

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