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Chart Signals - Monday, April 14

CMC Markets

Asia Pacific indices

Australia 200 failed to break through channel resistance near 5,500, completing a triple top in the process and has fallen back toward 5,400 with channel support still in place near 5,285. RSI dropping back toward 50 suggests upward momentum fading.

Japan 225 remains under pressure, dropping below 14,000 and falling to retest 13,850 which has held so far but if it fails next support may appear near 13,700 or 13,180 both Fibonacci levels. RSI trending lower indicates downward momentum growing.

HongKong 43 had an inside consolidation day Friday falling back from 23,350 back under 23,000 with resistance dropping toward 23,160 and support coming in near 22,900.RSI falling from overbought suggests a correction starting that could test 22,675 or possibly even 22,360 a Fibonacci breakout point.

China A50 ran into resistance near 7,140 and has dropped back to retest its 7,000 round number breakout point while working off an overbought RSI. Next upside resistance near 7,300 with next support near 6,860.

Singapore 30 keeps drifting back from 3,235 back under 3,200 while RSI rollover suggests upward momentum weakening and a correction starting that could potentially retest the 3,150 recent breakout point.

US Indices

US30 is getting slammed, taking out 16,130, a Fibonacci level and diving to test the 16,000 round number barrier. RSI falling under 50 confirms a downturn in momentum. Next potential support on a break of 16K appears near 15,980 a previous low then 15,830 a Fibonacci test.

SPX500 has broken down, taking out 1,833 support then a Fibonacci level near 1,820 to signal the start of a new downtrend. RSI under 50 and falling rapidly indicates downward momentum accelerating. Next potential support tests near 1,800 then 1,770.


UK and European indices

UK 100 continues to retreat, confirming 6,600 as new lower resistance with next potential support in the 6,485-6,500 area between a Fibonacci test and a round number followed by 6,410 on trend. RSI faltering near 50 and rolling over indicates downward momentum intact.

Germany 30 is breaking downward again, taking out a Fibonacci level near 9,287 with the downturn confirmed by RSI diving back under 50. Next potential downside support tests appear near 9,180 then 9,000 and 8,975.


Gold remains in an upswing supported above $1,300 and testing $1,322 Fibonacci resistance. RSI back above 50 and rising indicates upward momentum increasing again. Next resistance on a breakout possible near $1,365.

US Crude has levelled off after running into resistance at the high end of a $102.00 to $104.40 Fibonacci trading channel.



NZDUSD dipped downward but continues to find support just below $0.8700 resistance. A growing negative RSI divergence suggests uptrend nearing exhaustion for now leaving the door open to further consolidation and a possible retest of $0.8600 or even $0.8545.

AUDUSD has slumped back from near $0.9460 under $0.9400 with potential support tests near $0.9340 then $0.9160 its recent breakout point. Overbought RSI suggests it could be vulnerable to a correction in the short term within a broader uptrend.

AUDSGD is trading near the high end of a $1.1550 to $1.1800 trading channel. Higher lows indicate continuing accumulation but a negative RSI divergence suggests upward momentum weakening.

USDJPY is trading near the low end of its 101.00 to 104.00 trading channel while RSI has found support near 40 similar to previous lows suggesting it could be gearing up for a bounce that could retest 102.00 or possibly even 103.45 both Fibonacci levels. Next downside test appears near the 100.00 big round number barrier.

EURJPY continues  to consolidate between 140.25 and 142.40, both Fibonacci levels with RSI sitting on 50 indicating sideways momentum prevails currently.

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