Asia Pacific indices

Australia 200 continues to fall back from 5,955 resistance with more possible near the 6,000 round number. A lower high near 5,930 combined with RSI rolling back under 70 from overbought suggest a near-term correction getting underway with next potential support near 5,835.

Japan 225 came within striking distance of 19,000 before slipping toward 18,850 in normal backing and filling. RSI getting overbought suggests consolidation or a correction increasingly possible with initial support in place near 18,590.

HongKong 43 continues to struggle with 25,000 round number resistance that coincides with the right shoulder of an H&S top. A breakout would call off the reversal pattern and signal an upswing with next resistance near 25,190. A failure could start another pullback toward a retest of 24,615 support. Rising RSI suggests upward momentum increasing again.

North American Indices

US30 has paused in the 18,150 to 18,250 zone consolidating its recent breakout. RSI continues to steadily climb, indicating that its underlying upward momentum remains intact.

SPX500 continues to consolidate recent gains between its 2,100 breakout point and its recent peak near 2,120. So far this appears to be a normal pause within an ongoing uptrend.

NDAQ100 has levelled off between 4,430 and 4,460 consolidating its recent gains and breakout over 4,400. Next upside resistance possible in the 4,490 to 4,500 area between a measured move and a round number.

UK and European indices

UK 100 continues to consolidate between 6,900 and 6,960 with a symmetrical triangle of higher lows and lower highs suggesting a pause within a bigger uptrend. It still needs to overcome resistance at the 7,000 round number to signal a new upleg.

Germany 30 is breaking out to another new high, trading above 11,300 with next round number resistance near 11,500. Higher lows indicate continued accumulation with support rising toward 11,160. RSI overbought and a negative divergence suggests rally may be getting overextended and a correction possible.

Commodities

Gold has resumed its uptrend successfully re-establishing trend support near $1,200. RSI rolling up from 40 indicates an upward momentum turn pending. Back above $1,210,next potential resistance appears near $1,222 then $1,235.

Crude Oil WTI has been pounded back toward $47.50 after slipping back under $50.00 into the lower half of its $45.00-$55.00 trading channel. Another breakdown could open the way to a retest of the channel bottom. RSI under 50 and falling indicates downward pressure increasing.

FX

NZDUSD has dropped back a bit after encountering resistance in the $0.7590 to $0.7600 area near a 23% Fibonacci retracement level but remains in an uptrend holding $0.7500 on the pair and 50 on the RSI. Next upside resistance near $78.25 on a breakout.

AUDUSD has been knocked back under $0.7800 after an attempt to break out over $0.7875 failed. RSI was rejected at 50 keeping its broader downtrend intact for now. holding above $0.7730, an ascending triangle base continues to form so this could be more of a setback than a reversal.

USDJPY has popped back into the upper half of its 118.00 to 120.00 trading channel while RSI lifting up off 50 suggests momentum may be turning upward again. Next resistance on a breakout possible near 120.90 then 121.75.

EURJPY continues to roll over on both the pair and the RSI suggesting momentum turning downward as EUR broadly retreats. Having broken 134.80, next potential support appears near 133.50 where a break would complete a descending triangle, then 132.00 and 130.25.