Click here to receive new analysis by email
Asia Pacific IndicesAustralia 200 is struggling in the lower half of its 5,000 to 5,250 trading range, recently drifting back from 5,100 towards 5,065 while RSI remains below 50 indicating its broader downtrend remains intact for now. Japan 225 has been knocked back under 18,000 and retested it as new resistance signalling its downtrend has resumed. Currently trading between 17,870 and 17,990 with next potential support near 17,740 and next resistance near 18,210. Hong Kong 43 is drifting back within its 20,350 to 22,150 trading channel with resistance falling from 22,910 back to near 21,700 then on towards 21,500. The RSI faltering near 50 indicates broader downtrend intact. Next potential support near 21,325 then 21,000. Hong Kong China H is still attracting support above 9,600 trading up in the 9,660 to 9,780 range as base building continues. Upside resistance remains in place in the 10,000 to 10,020 zone. India 50 is on the rebound, clearing 7,800 to complete a base and rising towards 7,860 with next potential resistance near 7,925. RSI rising towards 50 indicates downward momentum fading and an upturn pending.
North American and European IndicesUS 30 is dropping back within its 16,030 to 16,715 trading channel with 16,475 a Fibonacci level, emerging as new lower resistance with initial support near 16,340 then 16,210. US NDAQ 100 is holding its own today, climbing to test 4,355 where a breakout would complete an ascending triangle but failing then dropping back towards 4.300. RSI testing 50 where a breakout would signal an upturn but failure would confirm downtrend intact. US SPX 500 is sending mixed signals. While the index continues to struggle with 1,970 and 2,000 resistance, higher lows are forming an ascending triangle while RSI gaining on 50 suggests an upturn pending. Germany 30 has been bouncing around between 10,210 and 10,090 over the last few hours but it appears to still be attracting support above 10,000 having and stabilizing in the 10,130 to 10,150 area. UK 100 has dropped back from 6,170 under 6,100 and on towards 6,070 where some support has emerged with next potential support at the 6,000 round number.
CommoditiesGold is consolidating recent losses in the $1,100 to $1,110 range. RSI indicates downward pressure increasing. A round number break would signal the start of a new down-leg with next potential support in the $1,080 to $1,090 range. Crude Oil WTI is stuck below $45.00 trading between $43.60 and $44.20 within a $43.00 to $46.50 trading channel. RSI holding 50 to keep uptrend intact but if that fails, it would signal a downturn in momentum.
FXUS Dollar Index has bounced up off of 95.00 indicating renewed support but RSI remains stuck below 50 indicating a lack of enthusiasm for this bounce. Initial resistance near 95.40 then 96.00 with next downside support in the 93.80 to 94.00 range. NZDUSD keeps on base building in the $0.6250 to $0.6400 range with RSI indicating downward momentum slowing. The pair has moved up into the $0.6330 to $0.6340 area from $0.6300 support. AUDUSD is starting to pick up, clearing $0.7100 confirming a base in place near $0.7000 and rallying on toward $0.7150 with next potential resistance in the 40.7220 to $0.7250 area where a prior high and the 50-day average converge. RSI testing 50 where a breakout would confirm an upturn in momentum. USDJPY continues to form a symmetrical triangle, a consolidation pattern within an emerging downtrend. RSI still under 50 confirms downward momentum intact. Currently trading in the 119,90 to 120.40 area with next support near 118.55 and next resistance near 120.90. EURJPY ran into resistance at a lower high near 137.00 and has turned downward while RSI breakout over 50 also may be failing. The pair has dropped back towards 135.80 with next support possible near 135.60 then 135.00.
IMPORTANT NOTE AND DISCLAIMERS
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.
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.
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.
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.