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Chart Signals - Thursday, Oct 15

Chart Signals - Thursday, Oct 15

Asia Pacific Indices

Australia 200 continues to roll over with resistance falling toward 5,220 and the index dropping toward 5,190 with next support near 5,130 then 5,070. RSI holding 50 indicates underlying uptrend intact for now.

Japan 225 has turned decisively lower once again with the index breaking 18,000 and falling toward 17,700 confirmed by the RSI failing at 50 and turning downward. Next potential support near 17,650 then 17,360.

Hong Kong 43 ha stalled in the 22,380 to 22,620 range but RSI flattening suggests the recent rally may be running out of gas and a correction back toward 22,150 a Fibonacci test or the 22,000 round number looking possible.

Hong Kong China H is bouncing aro0und between 10,350 and 10,450 around 10,390 a 23% retracement of the previous downtrend. Should it follow other markets back downward, the 50-day average near 10,140 or the 10,000 round number could be retested.

India 50 is holding above 8,080 Fibonacci support in the 8,090 to 8,130 range but if that fails, the 8,000 round number could be tested once again.

North American and European Indices

US 30 is starting to break down again, taking out the 17,000 round number as it fell from 17,195 resistance down into the 16,890 to 16,950 zone. It remains in an uptrend above 16,835 Fibonacci support.

US NDAQ 100 is consolidating between 4,330 and 4,370 stuck below 4,395 and the 200-day average but holding above 4,310 a Fibonacci level.

US SPX 500 has broken down under the 2,000 round number once again, indicating its recent rebound has ended and a correction underway. RSI suggests upward momentum easing as the index pauses for  a rest with next support in the 1,975 to 1,980 area near a Fibonacci test and the 50-day average.

Germany 30 remains stuck below 10,000 but support near 9,890 a Fibonacci level has been holding so far. RSI swinging around 50 suggests momentum shifting into neutral.

UK 100 continues to stabilize around 6,310 trading in a 6,260 to 6,320 range. RSI testing 50 suggests a downturn may be pending.


Gold continues to take off USD weakens, clearing $1,170 then blasting through its 200-day average near $1,176 on its way toward a test of $1,188 a Fibonacci level. RSI confirms upward momentum increasing but nearing overbought suggests it may need to digest recent gains at some point.

Crude Oil WTI is hanging around $46.60 a Fibonacci level trading in the $46.20 to $46.80 range. RSI sitting on 50 indicates neutral momentum.

Copper has regained $2.40 having found support at a higher level near $2.38. This, combined with RSI holding 50 indicates its underlying uptrend remains intact with next potential resistance near $2.44 then $2.50.


US Dollar Index is breaking down today, falling from 95.00 and breaking a previous low near 94.40 on its way toward 93.90. RSI under 50 and falling indicates downward pressure increasing. Next potential support near 92.80.

NZDUSD is breaking out today, clearing $0.6730 which could be tested as new support and driving on toward $0.6810. RSI nearing overbought suggests some backing and filling may be needed. Initial support rises toward $0.6770. next resistance near $0.6915.

AUDNZD is breaking down today, taking out $1.0800 and its 200-day average to signal a new downtrend underway. Next potential support near $1.0730 then $1.0600. RSI confirms downward pressure increasing.

AUDUSD has bounced strongly up off a higher low near $0.7200 driving toward $0.7320 before  dropping back in a normal trading correction toward $0.7300 with more support possible near 40.7280. Next upside resistance near $0.7400.

USDJPY is turning downward and falling away from 120.00 with a sharp downturn by the RSI confirming downward momentum increasing. The pair has dropped toward 118.70 with next support near 118.40 then 116.10 with resistance dropping toward 118.90. Death cross of the 50 and 200-day averages getting really close.

EURJPY remains in an upswing within a 13.00 to 137.40 trading channel currently near 136.50.

CADJPY  has paused near 92.00 currently trading between 91.60 and 91.90. RSI holding 50 indicates underlying upward momentum intact. Next resistance possible near 92.50 with next support near 91.10.

USDSGD is breaking down today taking out $1.3890 to signal the start of a new downtrend confirmed by falling RSI. The pair has dropped toward $1.3770 with resistance falling toward $1.3810 with a test of the 200-day average near $1.3660 possible.

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