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Chart Signals – Mon, 14 Sep

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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.


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