Asia Pacific indices

Australia 200 looks vulnerable here. The index continues to drift back toward 5,555 after completing a double top near 5,685. RSI back under 50 confirms momentum turning downward, opening the door to a potential test of 5,500 or even 5,425.

Japan 225 is still struggling with 15,810 resistance and appears to have completed a double top. A lower high in the RSI indicates upward momentum fading. Next support near 15,580 then 15,435.

HongKong 43 is falling back from 25,380 in a normal correction but remains above 25,000 round number support for now with channel support near 24,650 should that fail. Lower highs in the RSI suggest upward mo fading.

China A50 is breaking out again, clearing 7,460 to signal a new upswing with next potential resistance near 7,600 or 7,730. RSI indicates upward momentum accelerating.

India 50 is breaking out to another new high with next measured resistance on trend possible near 8,220. RSI overbought suggesting a pause or correction still possible at some point.

Singapore 30 is hanging around 3,325 while a symmetrical triangle keeps forming indicating a consolidation period underway within an ongoing uptrend. Upside resistance possible near 3,350 then 3,390 with support near 3,300.

US Indices

US30 is bouncing around between 17,000 and 17,150 but is having trouble getting through and a double top now appears to be in place. RSI rollover suggests upward mo weakening. Next support on a breakdown near 16,900 and the 50-day MA.

SPX500 continues to hang around the 2,000 level trading between 1,990 and 2,015. RSI has rolled back under 70 from overbought, suggesting upward mo fading and a correction potentially starting with next support at the 50-day MA near 1,970.

NDAQ100 looks vulnerable here with 4,100 increasingly emerging as resistance and RSI falling from overbought suggesting a correction may be starting. Initial round number and breakout point support appears near 4,000.

US SmallCap 2000 has started another downswing, slumping back from another lower high. 1,180 has emerged as new lower resistance while RSI rolling down toward 50 indicates upward mo fading. Next potential support tests near 1,165 then 1,140.

Canada 60 looks exhausted here. A break above then drop back under 900 suggests a bull trap top in place combined with a negative RSI divergence which suggests upward momentum weakening and a trend change underway. Support near 890 then 880 in a pullback.

UK and European indices

UK 100 is rapidly falling away from 6,900 channel resistance where it recently completed a double top. RSI indicates upward momentum fading fast. Initial Fibonacci support possible near 6,690 then 6,560 in a selloff.

Germany 30 has encountered some resistance near 9,800 and paused below that level and above 7,820 support. RSI indicates its underlying uptrend remains intact. Next resistance near 9,865 with next support around 9,615.

France 40 has become overbought and stopped short of 4,500, a key support/resistance level. It has started to roll over in a normal correction but remains in an uptrend above 4,400.

Spain 35 is struggling near 11,100 with upside resistance near 11,180 and 11,275. RSI getting overbought suggesting a correction possible that could test 11,000 or 10,880.

Italy 40 ran into resistance near 21,450 and has started to drop back as RSI suggests upward momentum levelling off. Initial correction support possible near the 21,000 round number test.

Norway 25 is stalling at another lower high near 570 resistance, suggesting the recent rebound may be ending and its longer term downtrend resuming. Potential Fibonacci downside tests appear near 557 then 542.

Sweden 30 is on the rebound, trading back above its 10-day MA and 1,350 with next resistance near 1,370 and 1,385 while support rises toward 1,345. RSI pickup suggests momentum turning upward.


Gold is breaking down again, falling through $1,260 toward $1.250. Its falling channel and downward RSI momentum remain intact suggest its broader downtrend remains intact and a retest of $1.240 remains possible.

Silver has found some support around $19.00 but needs to drive through a $19.40 to $19.50 congestion zone to signal a turnaround that could test $20.00 initially. RSI oversold suggests downward pressure may be easing. More support near $18.40.

Copper is picking up today, clearing $3.15 and approaching $3.20 resistance where a breakout would positively resolve a symmetrical consolidation triangle. RSI indicates upward momentum building. Next upside resistance possible near $3.30.

Crude Oil WTI is breaking down again today, falling under $93.75 to signal a new downleg with next potential support near $91.15 where it completed a double bottom last year. RSI suggests momentum remains downward but getting close to oversold.

Crude Oil Brent is breaking down today, taking out the $100.00 round number barrier  and more. RSI indicates downward momentum increasing. Next potential support  tests appear near $97.75 then $97.00.

Natural Gas continues to base-build in the $3.70 to $4.10 zone. RSI swinging around 50 indicates momentum has shifted into neutral from negative.


NZDUSD continues to drift lower but appears to be finding some support near $0.8265 a Fibonacci level. A growing positive RSI divergence suggests downward momentum easing. Initial rebound resistance possible near $0.8360 then $0.8400.

AUDUSD ran into resistance at a lower high near $0.9400 and has been knocked back under $0.9340 while falling RSI suggests the recent rebound may be over and a retest of $0.9240 channel support possible.

AUDNZD is starting to consolidate its recent rally and working off an overbought RSI but its underlying step uptrend remains intact above the $1.1180 breakout point. Next resistance near $1.1300 then $1.1360.

AUDSGD is dropping back after failing to break through the high end of a $1.1550 to $1.1800 trading channel, slipping back under $1.1700. RSI dropping back toward 50 indicates overall momentum remains sideways.

USDJPY is breaking out again, rallying to a new high near 106.00 even though RSI remains way overbought suggesting a correction possible. In a pullback the 105.40 breakout point or the 105.00 round number could be retested.

EURJPY has once again tested support near 136.00 with more possible near 135.40. A triple bottom appears to be in place with initial resistance possible near 136.85 then 138.00 channel resistance.

USDCNH is breaking down again, this time taking out 6.1425 to signal the start of a new downleg on trend with next Fibonacci support near 6.1130. RSI rollover indicates downward pressure growing again.