Asia Pacific indices

Australia 200 is holding steady between its 5,500 breakout point and 5,550 with next measured resistance possible on trend near 5,715.

Japan 225 once again failed to retake 14,565 confirming resistance at that level. RSI faltering near 50 and rolling down indicates downward mo intact. Next Fibonacci support appears near 14,140 followed by the 14,000 round number.

HongKong 43 remains under pressure with 22,600 emerging as new lower resistance and RSI falling under 50 to indicate a downturn in momentum. 22,360 Fibonacci support has been holding so far, but a retest of 22,000 appears possible should that fail.

US Indices

US30 continues to struggle with resistance in the 16,600 to 16,610 area, the high end of its trading channel and has slumped back under 16,500 with next support near 16,445 then 16,300. RSI has faltered at a lower high suggesting upward momentum weakening.

SPX500 failed to hold above 1,880 and reversed downward while RSI topped out at another lower high suggesting upward momentum still fading. Initial support possible near 1,860 as it bounces around in a 1,820-1,900 channel.

UK and European indices

UK 100 stalled short of the top of its 6,485 to 6,725 trading channel and dropped back just as RSI faltered near 60 to suggest upward momentum fading again.. Initial support in a pullback appears possible near 6,600.

Germany 30 took a big turn downward from 9,640 falling toward 9,400 before bouncing back above 9,500. Both the index and the RSI peaking at lower highs suggest trend upward mo weakening as a 8,975 to 9,790 trading channel remains intact.

Commodities

Gold had a nice bounce up off of $1,270 in a bear trap reversal that confirmed support near the low end of its $1275 to $1325 trading channel. A positive RSI divergence suggests downward momentum weakening although it could still struggle with $1,300 initially.

US Crude continues to attract support above $102.00 and remains in a Fibonacci trading channel between there and $104.35. RSI stabilizing near 50 suggests overbought conditions have eased for now.

 

FX

NZDUSD ran into resistance near $0.8630 and slumped back toward $0.8565 with 23% Fibonacci support in place near $0.8550. RSI falling under 50 suggests a downturn in momentum with a retest of $0.8500 possible on a breakdown.

AUDUSD continues to drop back with $0.9300 emerging as new lower resistance and next Fibonacci support possible near $0.9210. RSI has dropped back toward 50 indicating upward mo fading but also that overbought conditions have eased.

USDJPY continues to swing around in a 101.00 to 104.00 trading channel currently drifting back from 102.80 toward 102.00.

EURJPY is holding steady somewhere in the middle of a 140.30 to 143.75 trading channel with initial resistance possible near 142.40.