Asia Pacific Indices

Australia 200 is breaking down again, taking out the 5,000 round number with RSI confirming downward pressure increasing. It has dropped into the 4,910 to 4,950 area with next support possible near 4,890. Japan 225 took out its August low near 17,135 on its way toward 16,890 before rebounding up toward 17,240 a classic bear trap bounce. It has since dropped back toward 17,080. A break of 17,000 would signal a new downleg. Hong Kong 43 has bounced up off a higher low near 20,310 back up into the 20,480 to 20,640 range as it continues to try to build a base around its August lows. A retest of 20,100 remains possible. Hong Kong China H continues to attract support above its August low near 8,940 having bounced up into the 9,190 to 9,320 area. RSI still under 50 which it needs to retake to call off its broader downtrend. India 50 successfully retested 7,660 to complete the right shoulder of a head and shoulders bottom pattern. It rallied back up toward 7,900 but has dropped back toward 7,800 with more support near 7,750. More resistance in place near the 8,000 round number.

North American and European Indices

US 30 is breaking down today, failing to hold early strength, taking out 16,000 and dropping toward 15,950. With RSI still under 50 and drifting lower, a retest of the August closing lows in the 15,700 to 15.800 range remains possible. US NDAQ 100 has come under renewed pressure, dropping from near 4,120 down toward 4,060 under 4,080 a Fibonacci level opening the door to a possible retest of the August closing lows and 4,000 round number. Currently trading in the 1,870 to 1,890 area. US SPX 500 successfully retested its August closing lows near 1,870 with the intraday low closer to 1,830, while RSI near oversold and a higher low emerging suggests recent selloff may be getting overdone. A break through 1,900 is needed to signal an upturn. Germany 30 has successfully retested its August low near 9,320 to complete a double bottom with a higher low on the RSI confirming downward pressure easing. It has bounced up into the 9,420 to 9,490 range with next resistance near 9,720. UK 100 is trying to stabilize in the 5,920 to 5,950 range, having dropped under 6,000 with more support possible near 5,880. Still trading well above its August low near 7,765 it remains vulnerable with a retest possible.


Gold has retested $1,125 shoulder support successfully and bounced back up toward $1,131 with next resistance near $1,142 as a head and shoulders base continues to form. RSI holding 50 confirms upward momentum building. Crude Oil WTI continues to level off around $45.00 with RSI sitting on 50 confirming sideways momentum. Currently trading in the $44.60 to $45.50 range with next resistance near $46.00 and next support near $43.75.


US Dollar Index is holding around 96.00 near the top of a 94.00 to 97.00 trading channel. RSI on 50 indicates sideways momentum. NZDUSD continues to struggle with $0.6400 resistance but continues to base build as support moves up toward $0.6340 from $0.6240 where a double bottom appears to be in place. RSI needs to clear 50 to signal an upturn in momentum. AUDUSD has drifted back under $0.7000 having run into resistance once again near $0.7040, keeping its downtrend intact while the RSI confirms ongoing pressure. So far $0.6980 support has been holding with more possible near $0.6890. USDJPY has slipped back under 120.00 into the lower part of its 119.00 to 121.50 trading channel. RSI confirms broader downward momentum intact. EURJPY is struggling with resistance near 135.00 for the pair and 50 on the RSI keeping its broader downtrend intact with next potential support near 134.60 then 133.00.


Market Opinions
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.

Third Parties
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.

Important Note
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.