Here is today’s wrap and chart signals
Asia Pacific Index Chart Signals
Australia 200 has climbed up off of 5,300 support toward 5,370 with initial resistance possible near 5,400 then 5,445. RSI suggests downward pressure starting to level out.
Japan 225 continues to trend sideways trading in the 20,600 to 20,660 area just above the middle of a 19,920 to 20,980 trading channel. RSI near 50 confirms sideways momentum.
Hong Kong 43 remains in a downtrend having broken 24,000 but appears to be stabilizing in the 23,710 to 23,840 range for now. RSI indicates downward pressure intact. Next potential support near 23,570 a previous low.
Hong Kong China H has slipped back under the 10,000 big round number but so far has managed to hold above its previous low near 10,660. A retest could end with a double bottom or a breakdown. RSI suggests downward pressure levelling off. Initial rebound resistance near 11,220.
India 50 has encountered resistance at a lower high near 8,525 short of the 8,600 Fibonacci level. It has slipped back under 8,500 to test 8,460 with next potential support near 8,330, a previous low.
North American and European Index Chart Signals
US 30 has been on the rebound, climbing up off of 17,340 support up through 17,415 and 17,490 on its way toward 17,540 where it appears to be running into resistance at a lower high. RSI needs to retake 50 to signal an upturn.
US NDAQ 100 held 4,500 support and bounced back up toward 4,560 with next resistance closer to 4,600. RSI holding 50 indicates underlying uptrend intact for now.
US SPX 500 is still in a downswing, stuck below 2,100 resistance but has been holding above its 200-day average near 2,080 so far. RSI near 50 suggests sideways momentum intact but on a breakdown, 2,068 or 2,042 could be tested.
Germany 30 broke down through its 200-day average near 10,920 but found support at Fibonacci cluster between 10,810 and 10,845 and rebounded toward 10,980 before resuming declines. Next potential support at the July low near 10,665. RSI confirms downward momentum increasing.
UK 100 dipped under an uptrend support line near 6,550 but found support at a higher low near 6,500 then rebounded toward 6,555 where it appears to be stalling out. Falling RSI suggests broader downtrend intact with next potential support at previous lows near 6,490 then 6,425.
Commodity Chart Signals
Gold is climbing again today, rallying up off support in the $1,116 to $1,118 zone up toward $1,123 with next potential resistance near $1,126. RSI back above 50 confirms momentum turning upward.
Crude Oil WTI is trying to establish some support around its March low, bouncing around between $41.70 and $42.60. An oversold RSI and positive divergence suggest a trading bounce remains possible along with a potential retest of the $40.00 round number.
FX Chart Signals
US Dollar Index remains stuck in the lower half of its 96.00 to 98.00 trading range having encountered resistance near 97.00. Initial support near 96.55.
NZDUSD is holding steady above $0.65000 having completed a bullish double bottom near $0.6470 recently. Initial resistance near $0.6645 then $0.6730. RSI climbing toward 50 indicates downward pressure easing and an upturn pending.
AUDUSD appears to be base building in the $0.7250 to $0.7450 range. RSI testing 50 where a breakout would confirm an upturn. Next upside resistance possible near the $0.7500 round number.
USDJPY continues to bounce around in a channel between 123.85 and 125.35 with RSI confirming sideways momentum. Currently trading near 124.25 a Fibonacci level.
EURJPY has dropped back to retest 137.90 as support following a recent breakout. Initial resistance near 139.00 with next support near 137.00.