Click here to receive new analysis by email

Asia Pacific Index Chart Signals

Australia 200 continues to stabilize in the 5,000 to 5,250 range recently climbing up from 5,070 toward 5,100 with next resistance near 5,135. RSI flattening indicates momentum shifting into neutral. Hong Kong 43 is bouncing around 21,340 and 21,840 consolidating gains in the upper half of a 21,000 to 22,150 trading channel. RSI faltering near 50 suggests it’s not quite ready to mount a sustainable advance yet. More recently has rallied up from 21,3000 through 21,430 and on towards 21,500. Hong Kong China H failed to break through the 10,000 to 10,020 resistance zone and fell back towards 9,650 before the bulls stood up and drove the index back up into the 9,730 to 9,750 zone. India 50 peeked above 7,800 nearly reaching 7,850 before sliding back towards 7,750 which it has been testing as higher support up from 7,635. Japan 225 is consolidating its recent rally in the 18,000 to 18,350 range around 18,210 a Fibonacci level. Next upside tests at prior highs near 18,420 then 18,475.

North American and European Index Chart Signals

US 30 has moved back up towards the top of a 16,030 to 16,475 Fibonacci channel with support moving up toward 16,380 from 16,320. RSI indicates an upturn in momentum pending. Next upside resistance is near 16,690. US NDAQ 100 finished last week's strong rallying up from 4,260 towards 4,330 near the top of a 4,230 to 4,355 channel between two Fibonacci levels, with next resistance at the 200-day average near 4,385. RSI testing 50 suggests momentum may be turning upward. US SPX 500 remains under accumulation with an ascending triangle of higher lows still forming below the 2,000 round number, having held 1,940 Fibonacci support and rebounding toward 1,965 with next resistance near 1,977. Germany 30 dropped back initially before bouncing up off 10,140 toward 10,170 with a run at 10,200 in the last few minutes of trading Friday. Index continues to bounce around between two Fibonacci levels near 10,030 and 10,380. UK 100 encountered lower resistance near 6,200 and has dropped back into the 6,120 to 6,160 zone as it bounces around in a channel between 6,100 and 6,255.

Commodity Chart Signals

Gold successfully retested the $1,100 support with a possibility in the $1,080 to $1,090 area. It has bounced back up towards $1,107 but remains in a downtrend with RSI under 50 indicating downward momentum increasing. Crude Oil WTI continues to struggle with the $45.80 resistance and has dropped back under $45.00 in a normal downswing within its $43.00 to $46.60 trading range. RSI sitting on 50 indicates momentum shifting into neutral following a big bounce last month.

FX Chart Signals

US Dollar Index continues to roll over with the index falling back towards 95.00 and the RSI falling away from 50 to confirm a downturn. Next potential support nears 95.00 then 94.00 with resistance falling towards 95.25. NZDUSD has regained its footing with support moving up from $0.6250 towards $0.6285. Initial resistance near $0.6325 then $0.6345. RSI indicates downward momentum fading. AUDUSD is consolidating near $0.7080 having regained the $0.7000 level last week. RSI gaining on 50 signals downward pressure fading and an upturn pending. Next potential resistance tests near $0.7105 then $0.7195, a 23% retracement of its previous downtrend. USDJPY has encountered Fibonacci resistance near 121.00 and dropped back towards 120.50 but remains in an upswing above 120.00 with next resistance near 121.70. EURJPY continues its upswing rallying up through 136.00 and gaining on 136.90 with next potential Fibonacci resistance near 137.90. RSI clearing 50 confirms momentum turning upward.



IMPORTANT NOTE AND DISCLAIMERS

Market Opinions
Any opinion(s), news, research, analyses, prices, or other information contained on this website / document is provided as general market commentary and are from publicly available resources or otherwise obtained, and does not constitute investment advice nor does it seek to market, endorse, recommend or promote any investment or financial product. CMC Markets Singapore Pte Ltd. (Reg No./UEN: 200605050E) (“CMC Markets”) will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Accuracy of Information
The content is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. CMC Markets has taken reasonable measures to ensure the accuracy of the information, however, does not guarantee its accuracy, and will not accept liability for any loss or damage. CMC offers no financial advisory services in any of the content or vouch for the veracity of any information.

Distribution
The content of this publication is not intended for distribution, or use by, any person in any country where such distribution or use would be contrary to local law or regulation. None of the services or products referred to or mentioned are available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the responsibility of the reader to ascertain the terms of and comply with any local law or regulation to which they are subject.

Third Parties
CMC Markets may provide you with opportunities to link to, or otherwise use, sites and services offered through or by third-party(ies). Your use of these third-party services is subject to such terms as posted by these third-party(ies). We have no control over any third-party site or service and we are not responsible for any changes to any third-party service or for the contents thereof, including without limitation, any links that may be contained in or accessible through such third-party service. These links are provided solely as a convenience to you. You will need to make your own independent judgment regarding your interaction with these third-party sites or services. Our inclusion of advertisements for, or links to, a third-party site or service does not constitute an endorsement of any of the representations, products or services listed therein.

Important Note
Each reader/recipient agrees and acknowledges that: (a) no express undertaking is given and none can be implied as to the accuracy or completeness of this document; (b) this document does not constitute in any way a solicitation nor incentive to sell or buy any Shares, Stock Options and Contracts For Difference (CFDs) and similar and assimilated products; (c) each reader/recipient of this document acknowledges and agrees to the fact that, by its very nature, any investment in Shares, Stock Options, CFDs and similar and assimilated products is characterised by a certain degree of uncertainty; that consequently, any investment of this nature involves risks for which the reader/recipient is solely responsible and liable. It is to be noted that past performance is not necessarily indicative of future results. In this respect, past performance of a financial product do not guarantee any and are not an indication as to future performance; (d) the use and interpretation of this document require financial skill and judgement. Any utilisation whatsoever by the reader/recipient, relating to this document, as well as any decision which the reader/recipient may take regarding a possible purchase or sale of Shares, Stock Options, CFDs and similar and assimilated products, are the sole responsibility and liability of the reader/recipient who acknowledges and agrees to this as a condition precedent to and prior to any access to this document; (e) as a result of the above, all legal liability directly or indirectly arising whatsoever.