Asia Pacific indices

Australia 200 has retaken 5,800 calling off an H&S top that had been forming while RSI holding 50 confirms its underlying uptrend remains intact. Current resistance in place near 5,900 then 6,000 with support rising toward 5,780.

Japan 225 keeps on rolling higher, trading up above 19,500 and testing 19,650 with 20,000 looming on the horizon. RSI getting overbought but upward momentum intact for now. Support rises toward 19,400.

HongKong 43 is on the rebound, regaining 24,000 again with net potential resistance near 24,300 then 24,500. RSI gaining on 50 indicates downward pressure easing and an upturn pending.

North American Indices

US30 is on a tear having a bullish outside day dropping to retest 17,730 Fibonacci support early on then charging up through 18,000. RSI back above 50 signals momentum turning upward again with next potential resistance near 18,160 then 18,300.

SPX500 has broken out over 2,070 and is driving toward a retest of the top of its 2,040 to 2,120 trading channel. RSi back above 50 indicates momentum turning upward once again.

NDAQ100 has rallied back above 4,400 into the upper half of its 4,300 to 4,500 trading channel. RSI above 50 and rising indicates upward momentum increasing.

UK and European indices

UK 100 has exploded to the upside, clearing 6,980 to trade at a new high, challenging the 7,000 round number with next measured resistance on trend near 7,100. RSI confirms an upturn in momentum.

Germany 30 has not participated on today’s broader rally as it continues to correct its own major advance that saw a 1,000 point gain over the first part of March. RSI dipping back under 70 signals a correction getting underway. 12,000 emerges as a key resistance barrier with support near 11,800 then 11,500 and more resistance near 12,200 should it decide to rally after all.

Commodities

Gold is turning dramatically higher, rallying up off $1,142 Fibonacci support through $1,150 and testing $1.175 before slipping back toward $1,165. RSI breaking out of a downtrend signals a momentum change underway.

Crude Oil WTI is having a bullish key reversal day bouncing up off a new low near $42.00 and soaring up above $45.00 before slipping back toward $44.50. RSI turning up out of oversold territory indicates a trading bounce underway that could test $45.30 or $46.25 resistance.

FX

NZDUSD has cleared $0.7400 and is surging within its $0.7200 to $0.7590 trading channel. RSI back above 50 encouraging but needs to clear prior highs closer to 60 to signal an upturn in momentum. Next resistance near $0.7675 if it can manage to break out. NZ GDP today.

AUDUSD has broken out of a small base up through $0.7700 and has tested $0.7850 resistance with more possible near $0.7920. RSI needs to clear 50 to confirm an upturn.

USDJPY has a major downturn underway falling from 121.75 where it completed a double top, down to test the 120.00 round number, breaking a trend support line in the process and causing an ascending triangle to fail. RSI back at 50 signals a potential downturn with next support near 117,80 a 23% Fibonacci level.

EURJPY is breaking out of a base today, clearing 129.25 and driving up through 130.00 driving toward 131.75 before dropping back. RSI climbing up from oversold levels indicates downward pressure easing.