Asia Pacific IndicesAustralia 200 is breaking out of a downtrend today, clearing 5,100 and driving on into the 5,220 to 5,245 zone where it is testing Fibonacci and channel resistance. RSI regaining 50 confirms momentum turning upward once again. Japan 225 is breaking out today, clearing 18,000 on the index and 50 on the RSI to signal the start of a new uptrend. It has moved up into the 18,360 to 18,400 area with next resistance near 18,575 and next support near 18,300. Hong Kong 43 has broken out of a five month downtrend today with RSI regaining 50 confirming an upturn underway. Back above 22,000 next potential resistance appears near 22,145 then 22,715 (a previous low). Hong Kong China H has rallied back up above 10,000 decisively breaking a 5 month downtrend and nearing a channel top test near 10,180. RSI retaking 50 confirms momentum turning upward as it climbs out of a triple bottom base. India 50 looks like it has started to blast off, driving up through 8,000 and 8,080 to signal the start of a new uptrend confirmed by RSI clearing 50. Currently in the 8,100 to 8,120 area, next potential resistance appears near 8,175 the bottom of a previous gap.
North American and European IndicesUS 30 blasted through 16,475 a Fibonacci level on its drive towards its next retracement test near 16,835 climbing into the 16,760 to 16,790 zone near the 50-day average. RSI regaining 50 confirms momentum turning upward. US NDAQ 100 has cleared 4,310 a Fibonacci level and appears poised for a breakout nearing 4,340 with the RSI peeking back above 50 to indicate an upturn pending. Next resistance on a breakout possible near 4,380, support rises toward 4,255. US SPX 500 is on the rebound, driving up through 1,975 and on toward 1,990. RSI now back above 50 confirms momentum turning upward with next potential resistance near the 2,000 round number. Germany 30 continues to rally up out of a double bottom, climbing from 9,740 toward 9,870 with resistance tests looming near 9,900 then 10,000. RSI gaining on 50 indicates downward momentum fading and an upturn pending. UK 100 is breaking out of a base today, clearing 6,255 a channel top and Fibonacci level, with a break of 50 on the RSI confirming the upturn. The index has rallied into the 6,320 to 6,2330 area with next potential resistance near 6,410.
CommoditiesGold retested support at a higher level near $1,131 and has resumed its uptrend bouncing around between $1,133 and $1,138 with next potential resistance near $1,140 then $1,148 and $1,152. Crude Oil WTI is breaking out of downtrends on both the price and the RSI, causing descending triangles to fail and signalling an upturn. It’s now testing $46.60 a Fibonacci level and channel top where a breakout would confirm a new uptrend with next potential resistance near $47.50 then $49.40.
FXUS Dollar Index is neutral sitting on 96.00 the middle of a 95.00 to 97.00 range and 50 on the RSI. NZDUSD is breaking out over $0.6450 today completing a double bottom base and rising to challenge $0.6500 with next potential resistance near $0.6640. RSI back above 50 and rising confirms upward momentum accelerating. AUDUSD ran into resistance near $0.7120 and has dropped back a bit but support moving up toward 40.7075 from $0.7000 indicates increased underlying interest. RSI testing 50 indicates an uptrend pending with next resistance at the 50-day near $0.7180. USDJPY is still sitting near 120.00 within a 119.00 to 121.00 trading range. RSI nearing 50 suggests momentum may be about to turn upward with next resistance near 121.60. EURJPY continues to bounce around between 133.00 and 137.00 currently trading between 134.60 and 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.