Click here to receive new analysis by email
Asia Pacific IndicesAustralia 200 successfully retested 5,000 round number support with a bear trip bounce off of 4,990 which has carried on toward 5,070, a Fibonacci test with next potential resistance near 5,130. Japan 225 has a big battle underway between bulls and bears, swinging back and forth between 17,800 and 18,300 with more resistance possible near 18,375. RSI suggests downward pressure weakening. Hong Kong 43 held 21,300 support with more possible near 21,000 and has rallied up toward 21,600 with next resistance possible near 21,780 then 22,150. RSI nearing 50 indicates and upturn pending. Hong Kong China H are holding steady in the 9,600 to 9,800 range as base building continues between 9,540 and 10,020. RSI gaining on 50 indicates downward pressure fading. India 50 ran into some resistance near 7,875 and has slipped back toward 7,790 but remains in an upswing above 7,750.
North American and European IndicesUS 30 is picking up today, climbing up from 16,310 up through resistance in the 16,475 to 16,500 area near a Fibonacci test and round number and on toward 16,600 with next resistance near 16,700 the top of an ascending triangle. US NDAQ 100 has moved up from near 4,290 toward 4,360 to test the top of an ascending triangle pattern. Next resistance on a breakout possible near 4,400 then 4,435. RSI clearing 50 signals an upturn underway. US SPX 500 continues to form an ascending triangle of higher lows below 2,000. A rally up from 1,955 into the 1,975 to 1,980 zone near Fibonacci resistance and RSI clearing 50 signal renewed interest and an upturn in momentum. Germany 30 continues to attract support above the 10,000 round number and 10,045 a Fibonacci level, trading in the 10,090 to 10,250 range with next resistance near 10,260 than 10,360. UK 100 remains supported above 6,000 and appears to be on the rebound, rallying up through 6,100 a Fibonacci test and climbing on toward 6,160 with next potential tests near 6,200 then 6,255.
CommoditiesGold continues to trade back and forth in the $1,100 to $1,110 range, although RSI under 50 and falling indicates broader downtrend intact. Next potential support near $1,090 then $1,070 with next resistance near $1,115. Crude Oil WTI has established support at a higher low near $44.20 but rebounds have been contained by $45.00. The formation of a descending triangle of lower highs above $43.00 and RSI barely clinging to 50 is a contrary signal leading to a sideways trend overall.
FXUS Dollar Index continues to hold above a higher low near 95.00 trading up from 95.30 toward 95.85 with next potential resistance near 96.40. RSI needs to regain 50 to confirm an upturn NZDUSD is still stabilizing in the $0.6250 to 40.6400 range trading recently between $0.6290 and $0.6340. AUDUSD has encountered downtrend resistance near $0.7160, dropping back toward $0.7090 before rebounding up toward $0.7120. It remains in an upswing above $0.7000. USDJPY continues to form a symmetrical triangle of higher lows and lower highs between 118.20 and 121.70. Recently it has been bouncing around between 119.50 and 120.50 near the middle. Signals mixed with the triangle suggesting a pause in a downtrend and RSI suggesting downward pressure easing. EURJPY is trying to rebound from earlier weakness having bounced up off of 135.00 but it faces significant resistance near 135.80, 136.40 and 137.00.
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.
Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.