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Chart Signals - Friday 27 November

Chart Signals - Friday 27 November

Here are today’s chart signals covering index, forex and commodity markets.

Asia Pacific Index Chart Signals

Australia 200 remains in an uptrend with the RSI holding 50 and the index establishing support at a higher low near 5,190. Currently testing 5,245 a Fibonacci level, next resistance appears possible near 5,310 then 5,385 the October high.

Japan 225 has a big test of 20,000 resistance underway having cleared a Fibonacci cluster in the 19,915 to 19,965 area that may become support. Next potential resistance on a breakout appears near a measured 20,300 then prior highs near 20,620.

Hong Kong 43 has a nice upswing underway within its 22,100 to 23,400 Fibonacci trading channel. It has run up from 22,420 through 22,500 and on toward 22,640 with next resistance possible near 22,850. RSI confirms neutral momentum.

India 50 is showing signs of recovery advancing on 7,900 where a breakout would complete a base and signal a potential run at 8,000 or even 8,080 resistance. RSI advancing on 50 indicates downward pressure fading and an upturn pending.

North American and European Index Chart Signals

US 30 has been steadily gaining overnight, advancing up from near 17,830 toward 17,900 with support moving up toward 17,870. Next resistance appears at its previous high near 17,990.

US NDAQ 100 is on the move again, regaining 4,685 and advancing on 4,700 with nest resistance possible near 4,740 its previous high, then a measured 4,780.

US SPX 500 is back under accumulation, climbing to test 2,100 with next potential resistance near 2,115 then the summer triple top near 2,135. RSI confirms upward momentum increasing.

Germany 30 is breaking out! Clearing 11,215 and driving on toward 11,370 before sliding back toward the 11,300 to 11,330 area. Next upside resistance possible near 11,435 a Fibonacci level. RSI confirms upwards momentum increasing.

UK 100 has turned decidedly higher, rallying up from 6,330 toward 6,380 and into the upper half of its 6,050 to 6,500 trading channel. RSI lifting up off 50 confirms momentum turning upward. Next potential resistance near 6,455.

Commodity Chart Signals

Gold continues to pause in the $1,064 to $1,086 zone below a Fibonacci level in what appears to be a pause to work off an oversold RSI with a retest of the $1,000 big round number still possible.

Crude Oil WTI continues to form a saucer bottom between $40.00 and $42.00 but for the moment it’s still unable to overcome resistance slipping back from $42.00 toward the $41.20 to $41.60 area.

FX Chart Signals

US Dollar Index is steady just below the 100.00 big round number having peeked above it yesterday.

EURUSD is trading flat in the $1.0600 to $1.0620 range today but remains under distribution having fallen recently from $1.0700 with next potential support in the $1.0475 to $1.0500 zone.

NZDUSD continues to form a saucer bottom between $0.6435 and $0.6610. A higher low for the pair and RSI testing 50 suggest an upturn pending with next potential resistance on a breakout near $0.6650 then $0.6730.

AUDUSD ran into some resistance near $0.7290 and has slumped back into the $0.7225 to $0.7240 area in normal backing and filling. It remains in an uptrend above $0.7145 the 50-day average with next resistance near $0.7400 on trend.

USDJPY keeps drifting back with the pair under 123.00 and falling toward 122.50 with next support near 122.30 and 121.80 while RSI falling toward 50 indicates upward momentum fading.

EURJPY is sitting on the 130.00 round number which could hold in the short term with RSI getting oversold. On a breakdown, however, there could be room for further declines with next support possible near 128.60 then 127.40. Resistance falls toward 130.20.

CADJPY continues to trend sideways in a 91.50 to 93.50 channel with RSI sitting on 50 confirming neutral trend. Currently trading in the 92.00 to 92.30 area.

USDSGD keeps trending lower trading below $1.4100 which has become lower resistance while RSI under 50 and falling confirms downward momentum increasing. Next potential support tests appear near $1.4000 then $1.3890.

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