Archives: Technical Analysis

Forex Technical Analysis

US Dollar Index keeps drifting lower following a recent failure to clear 98.00 resistance. The index has fallen back under 97.00 with next support near 96.55 then 96.00. RSI falling back toward 50 indicates upward momentum fading. EURUSD has regained $1.1000 which may be becoming new support with the pair having bounced up off of • Read More »

Gold and Oil Technicals

Gold remains under distribution with resistance falling from $1,150 toward $1,140 while RSI under 50 and falling confirms downward pressure increasing. Next potential support near $1,136 then $1,126 a Fibonacci level. Crude Oil WTI continues to struggle with $46.60 Fibonacci resistance but it also continues to hold on to most of last week’s breakout gains • Read More »

North American and European Indices

US 30 successfully retest support at its 200-day MA near 17,570 and has rallied back up above 17,700 with support moving up toward the 17,670-17.680 area. Next resistance at the recent high near 17,850 then the 18,000 round number. RSI suggests more digesting may still be needed. US NDAQ 100 continues to struggle with resistance • Read More »