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Chart Signals - Monday, Nov 9

Chart Signals - Monday, Nov 9

Asia Pacific indices

Australia 200 successfully retested 5,145 support and has bounced back up into the 5,180 to 5,210 area keeping its uptrend intact but it still faces resistance near 5,240 and 5,310 while RSI slipping under 50 suggests momentum turning downward so signals are a still mixed.

Hong Kong 43 has dropped back under 23,000 on the index and 50 on the RSI but remains within a wide 22,150 to 23,400 Fibonacci trading channel Currently trading between 22,570 and 22,730.

India 50 continues to slide, confirming 8,000 as new resistance following a breakdown, and falling into the 7.920 to 7.970 area with next potential support near 7,900 then 7,760. RSI under 50 and falling indicates downward momentum increasing.

Japan 225 remains in rally mode with former resistance near 19,180 becoming new support and the index driving up into the 19,410 to 19,500 area with more potential support near 19,380 a Fibonacci levels and next resistance near 19,585. Rising RSI confirms growing upward momentum.

North American and European Indices

US 30 remains stuck below 18,000 but well supported above 17,770 where it held Friday before rebounding toward 17,850 and then on toward 17,910. Overbought RSI suggests more consolidation may be necessary in the near term.

US NDAQ 100 remains steady near 4,700 having successfully retested its 4,680 recent breakout point as new support. Upside resistance remains in place near 4,735. RSI overbought suggests a correction still possible.

US SPX 500 continues to roll over, dropping back under 2,100 while RSI rolling back under 70 suggests a trading correction starting. Initial support near 2,088 with more possible near 2,075 and 2,060 with upside resistance on a rebound near 2,115.

Germany 30 soared as strong US payrolls drive EUR down. The index rallied up off 10,855 Fibonacci cluster support up through 11,000 and on toward 11.050. Support moves up toward 10,955.

UK 100 continues to languish in the lower half of its 6,300 to 6,500 trading channel, bouncing around between 6,330 and 6,390.


Gold has been slammed again, diving from near $1,100 down through $1,100 and on toward the $1,085-$1,090 zone. RSI getting oversold but confirming downward pressure so far. Next support possible near $1,078 then $1,070.

Crude Oil WTI has slipped back under $45.00 as the downswing within its $43.00 to $48.00 channel deepens. RSI falling back under 50 indicates downward pressure increasing again. Support possible near $44.25 then $43.55 while resistance falls toward $44.40.


US Dollar Index is breaking out, driving up through the top of its 94.00 to 99.00 trading range, clearing the August high to signal the start of a new upleg. RSI getting overbought suggests it could encounter resistance at the 100.00 round number.

EURUSD has taken out a $1.0800 support level that had held since April to signal the start of a new downleg. It has levelled off in the $1.0710 to $1.0750 area. A retest of the breakdown point appears possible with RSI getting oversold. Next downside support possible in the $1.0640 to $1.0680 area.

NZDUSD remains in retreat, falling back to test $0.6500 with next potential support near $0.6430 while resistance slides back toward $0.6530 from $0.6640. RSI back under 50 and falling signals downward momentum increasing.

AUDUSD has turned downward again, falling down through trend support into the lower half of a $0.6900 to $0.7400 trading channel. Support has been holding above $0.7000 so far with resistance falling toward $0.7050 from $0.7120.

USDJPY has broken out over 121.80 completing an ascending triangle to signal the start of an upleg and is testing resistance near 123.25 with more possible near 125.50. RSI getting overbought suggests potential fro some backing and filling above the recent breakout point.

EURJPY continues to test channel support near 132.00 with resistance falling toward 132.40. On a breakdown, 131.40 or the 130.00 round number could be tested.

CADJPY is creeping higher within a 90.50 to 93.00 trading channel where it has been consolidating an initial breakout rally in the 92.40 to 92.70 area. RSI bouncing around 50 confirms sideways trend.

USDSGD continues to climb within a $1.3700 to $1.4370 trading channel. It has broken back above its 50-day average above $1.4100 and rallied into the $1.4190 to $1.4220 area with next potential resistance near $1.4295.

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