Asia Pacific indices

Australia 200 continues to slip back from 5,840 resistance with the index and RSI rolling over suggesting a correction appears to be getting underway with initial support near 5,740 around previous lows then 5,665 a 23% retracement level.

Japan 225 has failed to break out of its 16,600 to 18,100 trading channel again falling back toward 17,900 after smacking into channel resistance. RSI remains in the 50-60 range indicating essentially sideways momentum. Initial support near 17,715 then 17,610 and 17,210 a Fibonacci level.

Hong Kong 43 dipped below 24,300 on the index and 50 on the RSI then rebounded in what appears to be a bear trap reversal that has confirmed a recent breakout point as new support. Initial resistance near 24,555 then 24,675.

North American Indices

US30 stalled short of resistance in the 18,000-18,100 zone while RSI has levelled off near 60 indicating the broader sideways trend remains intact. Higher lows indicate underlying accumulation with initial support rising toward 17,820.

SPX500 continues to advance, clearing 2,080 with next potential at its December high near 2,100. RSI clears 60 to confirm momentum turning increasingly upward. Support rises toward 2,060.

NDAQ100 has cleared 4,300 and is bumping up against its channel high near 4,340 while RSI is testing 60. A breakout for either would signal the start of a new upleg that could challenge 4,500. Support rises toward 4,290.

UK and European indices

UK 100 continues to trade back and forth between 6,730 and 6,900 channel resistance. RSI flat near 60 indicates uptrend has paused for now.

Germany 30 has started to climb again rallying up off of a higher low near 10,730, ending a recent correction and signalling another upturn within its current 10,585 to 11,000 trading range. RSI indicates momentum starting to turn upward again.

Commodities

Gold held $1,215 uptrend support and has bounced back a bit, while RSI held 40 to suggest that the recent correction may be winding down. Back above $1,220, it needs to retake $1,235 to call off the current downtrend.

Crude Oil WTI is hanging around $50.00 near the middle of its $45-$55 trading channel. RSI holding 50 indicates emerging uptrend intact for now. Initial support near $47.80 with initial resistance near $53.75.

FX

NZDUSD continues to bounce around between $0.7400 and $0.7500 as it tries to base build after finding support near $0.7210  with next resistance near $0.7590 a 23% retracement level. RSI climbing toward 50 signals downward momentum easing.

AUDUSD successfully retested $0.7615 support to complete a double bottom. RSU climbing back up through 30 from oversold suggests potential for a trading bounce. Initial support in place near $0.7800 then $0.7865 and $0.8000.

USDJPY saw an attempt to breakout over 120.00 soundly rejected with the pair diving back down under 119.00 to retest the downtrend line it broke earlier this week. RSI faltered near 60 indicating sideways channel momentum intact. Next support possible near 117.85.

EURJPY ran into resistance near 136.50 and then retested its 134.80 breakout point as new support before resuming its uptrend with a rally back up through 135.00. RSI needs to retake 50 to confirm an upturn in momentum. Next resistance near 137.60 on a breakout.