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Chart Signals - Thursday, Oct 8

Chart Signals - Thursday, Oct 8

Asia Pacific Indices

Australia 200 has levelled of near 5,245 a Fibonacci level after rallying up from 5,130 with support moving up toward 5,215 and resistance emerging near 5,270. RSI holding above 50 suggests a pause may be underway within an emerging uptrend.

Japan 225 remains under accumulation, still holding above 18,000 and advancing up through 18,210 on its way toward 18,380 with next Fibonacci resistance near 15,575 and support rising toward 18,320. RSI clearing 50 confirms momentum upturn.

Hong Kong 43 has broken out of a triple bottom base, clearing 22,145 and continues to advance with support rising toward 22,380 with resistance near 22,500 then 22,675 and 23,000. RSI above 50 and rising indicates upward momentum accelerating.

Hong Kong China H broke out of a base yesterday, clearing 10,130 which may become support and rallying up into the 10,310 to 10,470 zone around 10,390 a Fibonacci level. RSI indicates upward momentum growing. Next potential resistance after 10,500 looks near 10,730 a prior low.

India 50 is having an inside consolidation day between 8,130 and 8,180 digesting a big breakout over 8,080 which has become support. RSI indicates upward momentum still increasing with next resistance possible near 8,200 then 8,280 on trend.

North American and European Indices

US 30 continues to climb with a rising RSI confirming a rising price. The 50-day average near 16,715 has been confirmed as new higher support and the index has also cleared 16,835 moving up toward 16,890 with the 17,000 round number coming into view.

US NDAQ 100 is still hanging around between 4,270 and 4,340 around a Fibonacci level near 4,310 and below its 50-day average. RSI indicates momentum turning upward. Next resistance on a breakout at the 200-day MA near 4,400 then a Fibonacci test near 4,455.

US SPX 500 continues to struggle with resistance at a channel top, its 50-day MA and a round number in the 1,990 to 2,000 area. Fibonacci support remains intact near 1,975 with next resistance in the 2,015-2,020 area.

Germany 30 has retaken the 10,000 round number as its rebound continues with RSI regaining 50 confirming the upturn in momentum. It has started to bounce around 10,045 a Fibonacci level having topped out for now near 10.080 with next potential resistance near 10,370 as support rises toward 9,940.

UK 100 is breaking out today, clearing 6,300 on its second attempt and driving on toward 6,390 while support rises toward 6,340. RSI confirms momentum turning upward. Next potential resistance at a prior low near 6,425.


Gold is retesting the old trend resistance line it recently broke as new support near $1,145 as often happens with more support possible near $1,140. Rising RSI indicates this looks like a correction within an uptrend. Upside resistance near $1.154 then $1,160.

Crude Oil WTI took a run at $50,00 but failed at a Fibonacci test near $49.40. It then dove back toward $48.50 initially and has stabilized in the $47.60 to $48.10 range well above its $46.60 recnet breakout point.


US Dollar Index has stabilized near 95.60 after yesterday’s retreat, still within its 95.00 to 97.00 trading range with RSI still confirming sideways momentum.

NZDUSD has been doing some normal backing and filling, dropping back toward $0.6610 after encountering resistance near $0.6655. Higher lows for the pair and a rising RSI suggest a normal trading pause within an emerging uptrend.

AUDUSD is breaking out of a downtrend today clearing $0.7165 and moving up into the $0.7200 to $0.7230 area with next potential resistance near $0.7280 a prior high. Rising RSI indicates upward momentum accelerating.

USDJPY keeps its sideways trend intact sitting on 120.00 within a 118.60 to 121.20 trading channel.

EURJPY is holding steady near 135.00 trading between 134.60 and 135.30. RSI on 50 confirms sideways momentum.

CADJPY continues to turn upward out of a double bottom base between 88.80 and 92.00, attracting support well above 91.00 where it broke out of a downtrend recently. Currently testing its 50-day average with next potential resistance at prior lows near 93.80.

USDSGD continues to roll down from a recent peak near $1.4360, currently trading near $1.3100 and testing its 50-day average near $1.3060. RSI has already broken under 50 and a price break for the pair would confirm a new downtrend with next support near $1.4000 then $1.3890 the prior low.

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