Asia Pacific Indices

Australia 200 is moving up within its 5,000 to 5,250 trading channel once again, clearing 5.070 and driving toward 5,100 with next resistance near 5,115. RSI indicates an upturn in momentum pending. Japan 225 has regained 18,000 as it bounces around between 17,900 and 18,100. Next upside resistance near 18,210 a Fibonacci level. RSI gaining on 50 indicates downward pressure weakening. Hong Kong 43 is moving up off a higher low near 21,740 rising toward 21,880 with next upside potential tests near 22,000 then 22,145 a Fibonacci level. RSI holding 50 following a breakout confirms momentum changing course and turning upward. Hong Kong China H is taking another run at 10,000, rising from near 9,870 toward 9,970 with support climbing toward 9,910. RSI testing 50 which it needs to clear to confirm an upturn along with a break through 10,175 by the index. India 50 found support near 7,870 and is trying to bounce back but it’s having trouble regaining the 8,000 round number, climbing from 7,920 toward 7,980 before levelling off. RSI testing 50 where a breakout would signal an upturn in momentum.

North American and European Indices

US 30 successfully retested 16,340 keeping its recovery trend intact, rallied up toward 16,580 before settling back into the 16,430 to 16,490 zone around 16,475 a Fibonacci level. RSI struggling with 50 where a breakout would confirm an upturn. Next upside resistance near 16,665 with more support near 16,390. US NDAQ 100 rallied up off 4,300 to start the week with RSI holding 50 to confirm momentum picking up. It has run into some resistance near 4,365 and may be moving into a 4,300 to 4,400 range for a pause to rest within an emerging uptrend. Recent trading in the 4,300 to 4,335 zone. US SPX 500 retested a trend support line near 1,955 and has bounced back but so far the rally has been contained by 1,977 Fibonacci resistance with a key test near 2,000 still looming. RSI bouncing around 50 suggests we could be shifting into neutral for a bit to consolidate recent gains. Germany 30 has stabilized above 9,890 a Fibonacci level, trading between there and 9,950. It still needs to retake 10,000 to signal an upturn with next potential resistance near 10,045. UK 100 continues to attract support above 6,000 bouncing up off 6,075 support toward 6,165 before sliding nearly all the way back and settling back into the 6,070 to 6,110 zone below 6,105 a Fibonacci level.

Commodities

Gold is starting to slump back, having run into resistance near $1,142 a Fibonacci level, it has dropped into the $1,131 to $1,135 range with next potential support near $1,126. Crude Oil WTI is having a nice rebound, climbing up off Friday’s low near $43.75 and rallying back up into the $45.70 to $46.70 range back into the upper half of its $43.00 to $47.50 trading range. RSI holding 50 confirms underlying positive momentum intact.

FX

US Dollar Index is carrying on from Friday’s turnaround, holding 95.00, clearing 95.50 and testing resistance near 96.00 for the index and 50 on the RSI which it needs to clear in order to confirm an upturn. Next tests possible near 96.45 then 97.00 if successful. Support climbs toward 95.80. NZDUSD failed to hold last week’s breakout up toward $0.6450 and has been pounded back into its $0.620 to $0.6400 channel recently dropping from near $0.6360 into the $0.6300 to $0.6320 area. RSI stuck below 50 confirms broader downtrend still intact. AUDUSD is retesting a broken downtrend line near $0.7125 as new support, confirming its recent breakout. RSI has slipped back under 50 however, suggesting upswing may be losing momentum. Next resistance near $0.7135 then $0.7155 with next support on a pullback near $0.7070. USDJPY is sending mixed signals trending sideways between 120.25 and 120.65 within a 118.50 to 121.50 channel where it has been consolidating last month’s decline. RSI, however, suggests downward pressure fading and an upturn pending. EURJPY remains in a downswing taking out both its 50-day and 200-day moving average as it sinks back into the 124.80 to 135.00 range with next potential support near 134.30 and 133.10. RSI diving back under 50 confirms a downturn.



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