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Chart Signals - Thursday, April 17

CMC Markets

Asia Pacific indices

Australia 200 has climbed back into the upper half of a 5,300 to 5,500 trading channel with RSI holding 50 confirming that upward momentum remains intact.

Japan 225 has broken through 14,140 and carried on toward 14,410, signalling the start of a new upswing that would be confirmed if RSI can climb back above 50. Next Fibonacci resistance appears near 14,565.

HongKong 43 has established support at a higher low near 22,600 while RSI has held 50 both indicating underlying upward momentum remains intact. Upside resistance appears in the 23,000 to 23,050 area between a round number and a Fibonacci test.

Singapore 30 continues to climb, building on a recent breakout over 3,235 a Fibonacci level that may become new support. Next resistance appears possible in the 3,300 to 3,330 area. RSI indicates momentum positive but nearing overbought territory.

US Indices

US30 has regained 16,300 while the RSI has moved back above 50 to indicate an upswing underway within a 16,000 to 16,600 trading channel. Currently trading near 16,380, next resistance appears near 16,460 with next support near 16,130.

SPX500 has bounced back up into the middle of its 1,820 to 1,890 trading range, currently near 1,855. RSI stalling near 50, however, suggests upward momentum tentative with the index stallng near another lower high.


UK and European indices

UK 100 continues to struggle with resistance near 6,600 while RSI remains stuck near 50 indicating that sideways momentum prevails within a 6,485 to 6,725 trading channel.

Germany 30 continues to swing back and forth in a channel between 8.975 and 9,780 currently trading just above 9,300 and a Fibonacci support level near 9,285. Next upside resistance possible near 9,600 with more support near 9,165. RSI swinging between 40 and 60 suggests neutral momentum.


Gold is sitting on $1,300 within a $1,275 to $1,325 trading channel. RSI bouncing around 50 indicates sideways momentum.

US Crude failed to hold above $104.40 and slipped back under that Fibonacci level while RSI has stalled indicating upward momentum running out of gas. Initial support in a correction possible near $103.00 then $101.90.



NZDUSD continues to drift back from $0.8700 resistance with RSI rollover indicating upward momentum easing and a correction possibly starting. Initial support tests appear near 40.8600 then $0.8545 and $0.8500.

AUDUSD continues to consolidate in the $0.9340 to $0.9400 range while working off an overbought RSI. Additional support possible near $0.9310 with next resistance on trend near $0.9540.

AUDSGD remains in an uptrend although RSI rollover suggests momentum may be changing. Resistance appears near $1.1790 with support possible near $1.1600.

USDJPY appears to have a new upswing underway within its 101.00 to 104.00 trading channel having moved back above 102.00. RSI nearing 50 suggests momentum turning upward once again.

EURJPY is starting to bounce within a 140.25 to 143.50 trading channel with initial resistance possible near 142.40.

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