Here is today’s wrap and chart signals
Asia Pacific Index Chart Signals
Australia 200 has rallied up into a Fibonacci cluster between 5,655 and 5,670 where it has run into resistance. Initial support has moved up toward 5,640 from 5,555 and RSI has moved back above 50 suggesting an upswing underway that could still potentially retest 5,720.
Japan 225 bounced up from 20,220 toward 20,520 but even with that gain, it remains short of resistance near 20,550 and really needs to retake 20,850 to call off a head and shoulders top. RSI sitting on 50 indicates sideways momentum.
Hong Kong 43 is currently trading between 24,440 and 24,700 with initial support moving up toward 24,610. a higher low in the RSI and index suggest base building in the 24,000 to 25,000 range but a symmetrical triangle suggests a pause within an ongoing downtrend so it could still go either way from here.
Hong Kong China H continues to stabilize in the 11,200 to 11,300 range within a wider 11,000 to 11,500 band. Although higher lows in both the index and RSI suggest selling pressure easing for now (even if government driven) but a symmetrical triangle suggests this could be a pause in a larger downtrend, so signals a bit mixed here.
India 50 has stabilized above 8,340 support and its recent downdraft appears to be subsiding. Initial upside tests possible near 8,400 then 8,440 a Fibonacci level.
North American Index Chart Signals
US 30 has climbed up from 17,640 into the 17,700 to 17,770 area just below the 17,775 to 17,800 zone where a Fibonacci level and the 200-day average converge. Next upside resistance at the 50-day average just above 17,900.
US NDAQ 100’s latest rebound has been struggling at a lower high near 4,590 but the index remains above initial support near 4,555 plus 50 on the RSI indicating its underlying uptrend remains intact for now. The index has dropped about 10 points since Facebook reported pulling back toward 4,570.
US SPX 500 ran into resistance near 2,110 and 50 on the RSI and its 50-day average all suggesting the move may be feeble and a pullback within its broader 2,060 to 2,135 trading channel remains possible.
UK and European Index Chart Signals
Germany 30 rallied up from 11,220 toward 11,280 before slipping back a bit. It appears to be stabilizing in a range between 10,060 and 11,310, two Fibonacci levels.
UK 100 has rallied up from 6,570 up through 6,600 and on toward a retest of 6,650 resistance with support moving up toward 6,620. RSI above 30 and bouncing off a higher low suggests downward pressure starting to ease.
Commodity Chart Signals
Gold continues to struggle with $1,100 resistance even with an oversold RSI suggesting a bounce possible suggests current trading in the $1,070 to $1,110 range may be a pause in a bigger downtrend that could eventually test $1,000.;
Crude Oil WTI rallied up off $47.20 confirming a recent low near $46.50, and on up into the $48.50 to $48.70 range. RSI has crossed back above 30 from oversold, signalling the start of an upward correction that could potentially retest resistance in the $49.75 to $50.00 area between a Fibonacci level and a round number.
FX Chart Signals
US Dollar Index is holding steady just above 97.00 near the middle of a 96.00 to 98.00 trading channel with RSI sitting on 50 confirming neutral momentum.
NZDUSD peeked above $0.6700 but was knocked back under into the $0.6660 to $0.6680 zone but higher lows indicate a base continues to form while RSI approaching 50 confirms downward pressure easing.
AUDUSD has slipped back under $0.7300 after failing to overcome downtrend resistance near $0.7345. Initial support in place near $0.7280 then $0.7260.
USDJPY is climbing within a 123.25 to 124.30 Fibonacci trading range, with support moving up toward 123.60 as the pair approaches 124.00. A higher low and RSI holding 50 suggests underlying uptrend intact.
EURJPY's advance has stalled out at a lower high near 136.90 and the pair has dropped back toward 136.00 with next support near 135.15. the right shoulder of an H&S top remains in place and RSI retesting 50 suggests pair remains vulnerable.