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Chart Signals - Friday Oct 9

Chart Signals - Friday Oct 9

Asia Pacific Indices

Australia 200 continues its recovery trend, retesting 5,200 as higher support and advancing on 5,270 with next potential resistance near 5,320 a previous peak. RSI above 50 and rising indicates accelerating upward momentum.

Japan 225 is bouncing around between 18,000 and 18,500 consolidating recent gains. It appears to be on another upswing climbing from 18,080 up toward 18,210 where it has been testing Fibonacci resistance.

Hong Kong 43 is consolidating recent gains in the 22,380 to 22,520 area, holding above 22,145 a recent breakout point. RSI above 50 indicates underlying upward momentum intact through this pause.

Hong Kong China H is challenging resistance at 10,390 a Fibonacci level with its next test at a recent high near 10.500. It remains in an uptrend holding above its 50-day average and a higher low near 10.140. RSI indicates upward momentum increasing.

India 50 has dropped back into the 8,110 to 8,150 range after running into resistance near 8,200 but remains in an uptrend above its 8,080 breakout point.

North American and European Indices

US 30 found support at a higher low near 16,.800 and has resumed its uptrend driving toward a test of the 17.000 round number with next potential resistance on a breakout near 17,195. Rising RSI indicates upward momentum increasing.

US NDAQ 100 has run into resistance near 4,330 once again near its 50-day moving average, but continues to attract support above 4,280 bouncing around 4,310 a Fibonacci level.

US SPX 500 gained strength through the day and has broken through 2,000 and its 50-day average to confirm the start of an uptrend with next potential resistance near 2,105 then 2,030 on trend.

Germany 30 is hanging around the 10,000 round number trading in a channel between two Fibonacci levels near 9,890 and 10,045. RSI clearing 50 indicates momentum turning upward. Next resistance on a breakout possible near 10,190.

UK 100 has run into some resistance near 6,400 but remains supported above yesterday’s 6,300 breakout point, trading above 6,380 keeping its new uptrend intact. Net upside resistance near 6,480.


Gold peeked briefly above $1,150 then turned south once again falling back under $1,148 and dropping back toward $1,142 with more support possible near $1,136. RSI peaking at a lower high indicates upward momentum weakening.

Crude Oil WTI caught fire again after establishing higher support near $47.50 first bounding up toward $48.50 then taking another run at $50.00 before slipping back into a range between $49.00 and  $49.40 a Fibonacci level. Next resistance on a breakout possible near $51.15 a prior high.


US Dollar Index has bounced up toward 95.40 having tested the bottom of a 95.00 to 97.00 trading channel. Next resistance near 96.20.

NZDUSD continues to rally having broken a downtrend and completed a base, climbing into the $0.6650 to $0.6700 area where previous highs suggest resistance could appear. With RSI nearing overbought territory already, it may be getting due for a rest to consolidate recent gains.

AUDUSD continues to climb up out of a base, building on its recent breakout from a downtrend but appears to be levelling off for now in the $0.7240 to $0.7270 area digesting recent gains just below $0.7275 previous highs. Rising RSI indicates upward momentum still increasing.

USDJPY is still sitting on 120.00 within a 118.80 to 121.20 trading channel. This remains a pause within an emerging downtrend with RSI holding below 50 and the 50 and 200-day averages creeping toward a death cross.

EURJPY continues to trade sideways around 135.00 having bounced up from 134.80 toward 135.60 before settling back toward 135.20.

CADJPY has paused near 92.20 and its 50-day average but remains well supported above its 91.90 recent breakout point. RSI above 50 indicates momentum turning upward with next potential resistance near 94.00 an old support level.

USDSGD continues to roll over, breaking its 50-day near $1.4080 and dropping toward $1.4040 with next potential support near $1.4000 then $1.3880 a recent low. RSI breaking 50 confirms momentum turning downward.

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