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Chart Signals - Thursday, Sep 24

Chart Signals - Thursday, Sep 24

Asia Pacific Indices

Australia 200 is clinging to 5,000 channel support recently bouncing toward 5,040 with more resistance near 5,070 a Fibonacci level then 5,145. On a reversal and round number break, the August lows in the 4,790 to 4,850 range could be tested. RSI suggests downtrend momentum intact. .

Japan 225 continues to attract support near 17,430 bouncing up into the 17,550 to 17,710 range with initial support near 17,630. RSI under 50 and drifting lower indicates downward momentum intact and a retest of the August low near 17,135 still possible.

Hong Kong 43 has taken out 21,330 support to signal a new downswing confirmed by RSI falling away from 50. Currently near 21,260, a retest of 21,000 with a retest of the 20,375 August low still possible.

Hong Kong China H is declining again increasingly falling from an unsuccessful attempt to break downtrend resistance near 10,000. Recently dropping from 9,600 toward 9,520, a retest of 9,280 potential shoulder support looks possible.

India 50 picked up support at a higher low near 7,700 regaining 7,750 and rallying on toward the 7,840 to 7,880 range. A head and shoulders base appears to be forming but it still needs to regain 8,000 to signal an uptrend with next resistance near 8,080.

North American and European Indices

US 30 has a trading bounce underway off of 16,175,  with support moving up toward 16,220 but it has failed to retake a broken trend support line near 16,425, confirming the recent breakdown and establishing it as new resistance after 16,340. RSI also still needs to clear 50 to call off the current downtrend.

US NDAQ 100 has attracted support at a Fibonacci cluster near 4,230 but has failed to make back much ground remaining below 4,300. RSI rolling down from 50 suggests downward pressure intact and growing. Next potential downside support near 4,200 then 4,130.

US SPX 500 bounced up off of 1,925 but having faltered at a lower high near 1,955, it has dropped back to test 1,940. RSI falling away from 50 indicates growing downward pressure and the potential for a retest of 1,900 or even the Aug low near 1,835.

Germany 30 held 9,500 and has been bouncing around through the day recently between 9,570 and 9,690 with more resistance possible near 9,710, 9,815 and 9,890. A retest of the August low near 9,320 still can’t be ruled out.

UK 100 has regained 6,000 as a relief rally has carried the index up from 5,890 back up toward 6,060. Next resistance possible near 6,105 then 6,165.


Gold has established support at a higher low near $1,122 and regained $1,126 moving up toward $1,132 with next resistance possible near $1,142 a Fibonacci level. RSI holding 50 on a retest confirms recent upturn in momentum.

Crude Oil WTI struggled with $46.60 resistance before getting pounded back under $45.00 and on toward $44.30 as it continues to bounce around in a $43.00 to 47.50 trading channel. RSI breaking 50 for the first time since June a bearish signal of a downturn in momentum.


US Dollar Index has paused near 96.50 having run into resistance at its 50-day average near 96.70. RSI above 50 indicates momentum turning upward with next resistance possible near 97.00 then 98.60.

NZDUSD is testing $0.6225 which could end in a triple bottom or a big breakdown. On a bounce, initial resistance may appear near $0.6260 hen $0.6330 and $0.6430. On a drop, the $0.6000 round number could potentially be tested.

AUDUSD has turned downward again from another test of $0.7100 downtrend resistance and has dropped back under $0.7000 with a retest of $0.6900 possible. RSI confirms downward pressure increasing once again.

USDJPY is holding steady just above 120.00 near the middle of a 119.00 to 121.00 trading range looking for a reason to start moving again. RSI under 50 suggests this could be a pause within a larger downtrend.

EURJPY has established support at a higher low near 133.30 that moved up toward 134.00 as the pair rallied up toward 134.60 where it faces resistance with more possible near 135.00 then 137.25.

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