Asia Pacific indices

Australia 200 is trading near 5,555 as it bounces around in a channel between 5,400 and 5,725. RSI bouncing around 50 confirms sideways momentum. Initial support and resistance near 5,540 and 5,570.

Japan 225 has fallen to within striking distance of 20,000 and 19,925 a 23% retracement and channel bottom while resistance falls toward 20,190. RSI back under 50 confirms momentum turning downward. Next potential support near 19,735 then 19,925 on a breakdown.

Hong Kong 43 was smashed on its breakdown below 25,000 a round number and Fibonacci test, not finding support until 24,030. It has since bounced back above 24,300 but faces resistance near 24,400 with support near 24,160.

Hong Kong China H was hit hard after 11,500 support failed with the index retesting 11,000 before bouncing back up toward 11,150 with resistance falling toward 11,200. RSI indicates downward pressure building once again.

India 50 is breaking down today taking out 8,440 and falling toward 8,350 while RSI breaking under 50 confirms the downturn. Next potential support near 8,280 a Fibonacci level then 8,200.

North American Indices

US 30 is retesting 17,415 support which could end in a double bottom or a breakdown. Next potential downside support near 17,125 for Fibonacci levels with initial resistance falling toward 17,500 from 17,590.

US NDAQ 100 is breaking down today as support at 4,555, its previous breakout point, failed completely and may become resistance again. RSI testing 50 to indicate a downturn in momentum pending with next support in the 4,485 to 4,500 area then 4,455.

US SPX 500 is selling off at a faster pace, falling to test its 200-day moving average near 2,070 with net potential support on a breakdown near 2,045 then 2,015. RSI confirms downward pressure increasing.

UK and European indices

Germany 30 is selling off today, taking out 11,300 and falling toward 11,065 a Fibonacci level with next potential support near the 11,000 round number and then 10,810. RSI falling under 50 confirms the tide has turned.

UK 100 continues to retreat with resistance falling toward 6,600 and the index falling toward 6,500 with next potential support near 6,460 and 6,425 near previous lows.

Commodities

Gold tried to retake $1,100 but failed and has dropped back toward $1,095 with next support near $1,090 then $1,070. We could still see trading bounces like this in the near term as it digests a recent dive and works off an oversold RSI.

Crude Oil WTI remains under distribution, falling into the $47.00 to $47.50 range with next potential support near $45.50 while resistance falls toward $47.70. RSI oversold but so far confirming downward pressure still increasing.

FX

US Dollar Index continues to retreat, falling back under 97.00 toward 96.50 wi8th next potential support near 96.00 then 95.55 and 95.00. RSI rolling back under 50 confirms momentum turning downward once again.

NZDUSD continues to stabilize in the $0.6500 to $0.6700 range. Higher lows for the pair and RSI climbing up out of oversold territory toward 50 indicate selling pressure and oversold conditions easing and base building underway.

AUDUSD is trying to establish some support above $0.7250 and could bounce back a bit with RSI getting oversold but at the same time with resistance falling from $0.7320 toward $0.7290 it still appears under distribution with a test of $0.7000 still a longer-term possibility.

USDJPY continues to roll over, currently testing 123.25 where its 50-day average and a Fibonacci test converge along with 50 on the RSI where breakdowns would confirm a downturn. Next potential support near 112.50 then 121.65 with resistance dropping toward 123.50.

EURJPY has started to turn upward with RSI retaking 50 to signal an upturn while the pair drives up off of 135.15 support toward the 136.70 to 137.10 area. It still needs to retake 137.90 to call off a head and shoulders top.