Here is today’s wrap and chart signals
Asia Pacific Index Chart Signals
Australia 200 faltered near 5,790 on the index and 50 on the RSI keeping its broader downtrend intact as a trading bounce appears to be winding down. Initial support possible near 5,700 then a Fibonacci cluster near 5,655 and the 5,600 in a pullback.
Japan 225 has started to struggle to make headway beyond 20,660 after 11 straight days of gains and with RSI near overbought, could be getting due for a correction with initial support near 20,530 then 20,470 and 20,400.
Hong Kong 43 has dived back under 27,500 as it falls away from a double top. RSI breaking down under 50 confirms momentum turning downward. With 27,475 broken and becoming resistance, next Fibonacci support possible near 26,740 with a round number test near 27,000.
Hong Kong China H remains volatile within its 13,600 to 15,000 wide trading band having been smashed down from 14,800 to 14,000 before bouncing back up into the 14,130 to 14,230 area. RSI testing 50 which could confirm support or signal a downturn.
India 50 is trading between 8,280 and 8,440 two Fibonacci levels in a higher range than earlier this month indicating renewed accumulation. RSI near 50 still indicates previous downward pressure fading.
North American Index Chart Signals
US 30 continues to drop back within its 17,775 to 18,360 trading channel. Resistance has fallen toward 18,130 while the index has slipped back toward 18,100 with next support at the 18,000 round number.
US NDAQ 100 continues to struggle with 4,555 resistance while RSI suggests upward momentum levelling off. A double top appears to be in place with initial support near 4,530 then 4,500.
US SPX 500 is steady so far today near 2,120 short of 2,135 resistance and above 2,100 support. RSI sitting on 50 indicates sideways momentum intact.
UK and European Index Chart Signals
UK 100 continues to attract support above 7,000 and 50 on the RSI keeping its current upswing going within a 6,900 to 7,135 trading channel with initial resistance possible near 7,050.
Germany 30 has levelled off in the 11,640 to 11,800 range with only shadows dipping below Fibonacci support. Currently trading near 11,690 but RSI on 50 suggests it could go either way from here with next resistance near 11,900 and next support near 11,500 then 11,435.
Commodity Chart Signals
Gold has stabilized near $1,190 trading between $1,285 and $1,192 today in the lower half of a $1,170 to $1,230 sideways trading channel and below the $1,200 round number.
Crude Oil WTI broke down again today, with a Fibonacci cluster near $57.50 emerging as lower resistance and the price falling from $57.20 toward $56.40, but it has regained its footing a bit later in the day bouncing back up toward $56.80.
FX Chart Signals
US Dollar Index has levelled off in the 97.00 to 98.00 consolidating its recent rally up from 93.00. Next upside resistance possible in the 99.00-100.00 area. RSI suggests that may be a pause within an ongoing uptrend.
NZDUSD is breaking down today, taking out $0.7180 channel support causing a double bottom to fail, and then retesting the breakdown point as new resistance. Next potential support near $0.7130 then the $0.7000 round number.
AUDUSD remains under pressure, taking out $0.7700 to confirm a downswing underway and a retest of $0.7550 prior low support or the $0.7500 round number possible. RSI under 50 and falling signals downward pressure growing.
USDJPY continue to soar, driving up toward 124.50 and within striking distance of 125.00 where a measured move and round number converge before dropping back toward 123.60 and then bouncing toward 123.90. Overbought RSI means pair could move on news.
EURJPY has rallied up above 135.15 to confirm an upswing underway within its 133.50 to 137.00 trading channel with next Fibonacci resistance near 138.00. RSI climbing up off 50 confirms uptrend intact and upward momentum increasing.