Asia Pacific indices

Australia 200 as held 5,555 support for now but continues to drift with RSI back at 50 indicating neutral momentum and resistance falling to a lower high near 5,600. Next potential support on a breakdown near 5,500 then 5,430.

Japan 225 is breaking out today, driving through 15,800 to signal the start of a new upleg that could challenge the 16,000 round number initially. Measured tests appear near 15,970 then 16,200. RSI indicates upward mo accelerating.

HongKong 43 is under pressure, taking out 25,000 and falling to test 24,650 channel support. RSI under 50 confirms momentum turning downward with next potential support near the 24,500 round number or 24.3765 a Fibonacci level.

India 50 keeps rolling over with RSI falling under 70 from overbgought signalling a correction getting underway. 8,200 has emerged as resistance with support possible near the 8,000 round number then uptrend support near 7,840.

US Indices

US30 is still holding on to the 17,000 round number for now but remains well short of 17,150 where it completed a double top. RSI falling toward 50 indicates upward momentum fading fast. Next support on a breakdown near 16,900 then 16,500 the 50 and 200 day MA.

SPX500 dipped below 1,990 today. It regained that level but remains stuck below 2,000 which has  become new resistance. RSI back under 50 signals momentum turning downward. Next potential support at the 50-day MA near 1,970 then the 23% retracement level near 1,905.

NDAQ100 is still trading in a 4,050 to 4,100 trading channel and remains vulnerable with RSI falling toward 50 indicating upward momentum weakening. 4,000 appears as an initial big round number and breakout point support test.

UK and European indices

UK 100 continues to hold 6,800 support but may have a hard time clearing 6,900 channel resistance ahead of the Scottish Referendum. Overbought conditions have eased but trading may remain choppy. Downside support near 6,770 then 6,690.

Germany 30 bounced up off of 9,615, establishing it as new Fibonacci support while rising RSI indicates upward momentum intact. Upside resistance possible near 9,740 then 9,800 and 9,875 on trend.


Gold is trying to stabilize near $1,250 with limited success so far. It remains in a falling channel downtrend with RSI indicating downward pressure intact and a retest of $1,240 still possible.  Initial bounce resistance possible near $1,258.

Crude Oil WTI remains in downtrend breaking down through $92.70 to signal another downleg underway with a retest of the $91.10 double bottom still possible. Resistance falls toward $93.75 from $94.75.


NZDUSD remains under pressure following the RBNZ statement with $0.8220 emerging as new lower resistance down from $0.8270 and $0.8190 support being tested with more possible near $0.8135. RSI oversold suggests a trading bounce still possible at some point.

AUDUSD continues to plunge, taking out $0.9240 and probing toward $0.9100 before coming back to retest its breakdown point as new resistance. RSI near oversold but confirming downward momentum for now. Surrounding Fibonacci levels near $0.9085 and 0.9215.

USDJPY continues its ascent, driving on toward 107.00 and 107.30 measured resistance even though a way overbought RSI suggests a correction possible. Support rises toward 106.00.

EURJPY is rallying toward the high end of its 136.00 to 138.50 Fibonacci trading range. RSI also near the top end of its 40-60 channel. Breakouts would signal the start of a new upleg with next resistance in the 140.00 to 140.25 range where a round number prior high and Fibonacci test cluster.

GBPUSD has rallied up off of $1.6070 to test the bottom of a gap near $1.6230. If it can fill in the gap and clear $1.6275 a run at $1.6400 Fibonacci resistance appears possible. RSI still way oversold so lots of room for a rebound but may remain volatile.