Asia Pacific indices

Australia 200 continues to rebound trading up near 5,340 with next potential resistance in the 5,380 to 5,400 area. RSI above 50 and still rising indicates upward momentum growing. Initial support on a reversal near 5,300 then 5,255.

Japan 225 has rolled over once again after a bull trap fake out near 14,830. It has fallen back toward 14,630 with next support possible near 14,565 then 14,325. RSI faltered short of 50 and has started to decline again indicating downtrend momentum remains intact.

HongKong 43 failed to hold above 22,360 but in its correction, held above 23,000 indicating bulls and bears in balance. RSI near 50 suggests momentum shifting into neutral for now. Next upside resistance near 22,635 with next support near 21,800.

China A50 continues to consolidate above its 6,860 breakout point while RSI holds above 50 suggesting a pause in an emerging uptrend. Next upside tests appear near 6,980 then 7,100.

India 50 failed to retake 6,100 and has been pounded back under 6,000 with next potential support near 5,955 then 5,900 and 5,800. RSI falling from another lower high indicates downward momentum accelerating once again.

Singapore 30 has been trading in the 3,030 to 3,050 area consolidating recent gains. RSI action around 50 may indicate if this is a pause in a bigger uptrend or another lower high. Next resistance possible near 3,090 with support in the 2,975 to 3,000 area.

US Indices

US30 bounced around in its emerging 15,830 to 16,040 trading channel before settling near the 16,000 big number level. RSI levelling off near 50 suggests upward momentum stalling, but next upside test near 16,130 if it can get going again.

SPX500 has been bouncing around between 1,800 and 1,830. RSI topping out near 60 and rolling over a sign of rebound momentum weakening. Next potential support tests appear near 1,800 then 1,784 with upside resistance near 1,835.

 

UK and European indices

UK 100 failed to break through 6,725 but also successfully held 6,600 as index continues to trend sideways. RSI on 50 suggests neutral momentum s it bounces around in a channel between 6,360 and 6,875.

Germany 30 continues to rebound, confirming the 9,500 breakout point as new higher support while RSI above 50 and rising suggests upswing momentum building.  Potential upside resistance appears near 9,650 then 9,725 and 9,800.

France 40 appears to be stalling once again, failing to break through the high end of its 4,050 to 4,350 trading channel while RSI approaches 60 where previous rallies have run out of gas. Initial support possible near 4,200.

Italy 40 slipped back on a change in leadership but regained its footing and finished above 20,000 once again. It continues to face resistance near 20.210 with support near 19,820.

Spain 35 continues to pause near 10,000 but support above 9,875 a Fibonacci level and RSI holding above 50 suggests underlying uptrend intact with next potential upside tests near 10,170 then 10,240.

Commodities

Gold is breaking out again today, clearing $1,300 to complete a saucer bottom that has been forming over the last four months. RSI is nearing overbought so it may need to pause above $1,280 support but remains in an uptrend with next potential resistance tests near $1,322 then $1,365. .

Silver continues to hold above $20.00 within a $19.20 to $20.60 trading channel. RSI still in an uptrend and above 50 indicates upward momentum increasing.

Copper is bouncing around between $3.22 and $3.28. RSI needs to retake 50 to confirm the start of a new upswing.

US Crude spent the day consolidating near $100.00 remaining above $99.40, a Fibonacci level, indicating underlying interest remains intact. Next support appears near $98.60 with next resistance near $101.35 then $101.85.

UK crude tried to break down through $109.00 but found support and regained that Fibonacci level. The RSI did not confirm the early retreat and remains above 50. Next support appears near $106.80 with upside resistance possible near $110.00.

Natural Gas staged a nice technical rebound rallying from $4.88 toward $5.25 both Fibonacci levels while RSI bounced up off of 50 to keep upward momentum intact. Rally driven by another US storm and could fade once it moves through. Next resistance near $5.45 with support near $5.00 then $4.85.

FX

NZDUSD continues to consolidate near $0.8340, a Fibonacci level with channel resistance in place near $0.8400 and support possible near $0.8290 then $0.8260 initially. RSI levelling off near 60 suggests upward momentum stalling.

AUDNZD appears to be rolling over as it falls back to test $1.0755 with next support on a breakdown closer to $1.0600. RSI dropping back under 50 suggests momentum turning downward once again.

AUDUSD failed to retake $0.9100 channel resistance and has been knocked back under $0.9000 with next support tests possible near $0.8900 then $0.8835. RSI rolling over suggests upward momentum may be fading for now.

USDJPY has resumed its downtrend breaking down through 102.00 with next Fibonacci support tests near 101.00 and 100.00. RSI faltering near 50 indicates broader downtrend momentum remains intact.

EURJPY remains stuck in neutral with RSI sitting on 50 as it bounces around between two Fibonacci levels near 138.50 and 140.30.

USDSGD is testing trend support once again near $1.2650 where a breakdown would confirm the start of a new down trend with next potential support near $1.2600 then $1.2560. RSI under 50 and falling suggests downward momentum accelerating. Initial bounce resistance near $1.2675.