The USA 500 top market capitalization stock index found support in the 4,100.00 level in late October. Afterwards, a surge followed that step by step has reached above 4,500.00 and soon would test the 2023 and 2022 high levels at 4,606.45 and 4,636.70. A move above 4,636.70 could be slowed down by round price levels, before the index eventually reaches
Recently the USD/CHF currency pair confirmed that it has been declining in a large scale channel down pattern since the start of October. Namely, the pair bounced off the combined resistance of the pattern's upper trend line, the 50-day simple moving average and the 0.9050 level. The ongoing decline could look for support in the 2021 low level at 0.8760.
The US top 2000 stock index has mostly continued to decline in a large scale channel down pattern throughout the second part of 2023. However, most recently a major event took place. The index pierced the resistance zone at 1,735.00/1,750.00, the upper trend line of the channel pattern and the 50-day simple moving average. In theory, this event should be
At the start of November, the US stock volatility index passed below the October low level at 16.00. It indicates that the index could approach prior low levels not seen since September. The ongoing decline could soon look for support in the 14.92 and 14.65 levels that have acted as support in August and September. Below these levels note the
The Japanese stock index made another attempt to pass above the 33,500.00 mark in mid-September. The resistance of the high level was enough to cause a decline below the 50-day simple moving average and the 31,245.00/31,800.00 range. Most recently the stocks found support at 30,285.00/30,630.00 and the 200-day SMA. A recovery of the stock index would most likely face
The price for orange juice has continued to surge since early 2022. The surge occurred in a massive channel up pattern until mid-September. in September, the pattern was broken to the upside. Namely, the surge gained more momentum. However, the price remains in a smaller scale pattern that has guided it up since the start of July. In general, the
The US stock volatility index has revealed that it has support at 13.40/13.80 and resistance at 19.40/19.60. Most recently, the index bounced off the resistance zone and started a decline. An extension of the ongoing decline could find support in the 16.00 mark, which has shown to be capable of acting as support and resistance. Below the 16.00 level,
The South African stock index passed below the 69,000.00 level in late August. Afterwards, support was found in the 2023 March low level zone at 67,000.00/67,500.00. After finding support the index confirmed the 69,000.00/70,000.00 range as resistance. Since these events, the stocks have traded between the mentioned support and resistance zones. A move below 67,000.00 could result in the stock
The German stocks have passed below the summer low level zone and 15,500.00 level. Moreover, it appears that the index has formed a descending channel pattern that has guided it down since the end of July. In the near term future, the stocks could look for support in the 15,000.00 mark and the lower trend line of the channel down
The US top 2000 stock index has continued to decline in September. Namely, in late August a recovery found resistance in the 50-day simple moving average, which caused the ongoing decline. An extension of the decline is expected to look for support in the 1,750.00 and 1,700.00 levels. These levels are near notable support and resistance zones that might come
Saudi Arabia and Russia have extended their oil production cuts. Due to this reason oil price benchmarks have extended the summer rally above the 81.20/83.70 range. From a technical perspective the rate found support in the combination of the lower trend line of the summer ascending channel and the 50-day simple moving average. Most recently, the pair passed above
The EUR/JPY currency exchange rate has been finding support in the 50-day simple moving average for all of August. The support of the indicator was enough to push the rate through the June and July high level zone at 157.80/158.00. Meanwhile, the pair remains in two ascending channel patterns. In the case of the pair declining below the 50-day simple
Since the last review done on June 29, the South African stock index has respected the support and resistance zones that were marked at the start of summer. In general, the index found support in the 69,000.00/70,250.00 range and surged to test the high level zone at 73,750.00/74,730.00. The high levels held and caused a steep decline, which eventually
Since the start of July, the USD/CHF declined in the broad channel down pattern as low as 0.8550, before starting a recovery. Most recently, the rate pierced the upper trend line of the channel down pattern, indicating that the major decline might have ended. If the US Dollar continues to gain value against the Swiss Franc and the pattern is
Since the pair was reviewed at the start of July, it has continued to move higher. The 2021 and 2022 high levels held as resistance for some time, before the combined support of the ascending channel's lower trend line and the 50-day simple moving average caused a push to the 2.0000 mark. Most recently, the 2.0000 acted as resistance
Since the last review of the US top 2000 stock index, the equities continued to surge in the channel up pattern and made three attempts to break above the 2,000.00 mark. However, at the start of August a decline started, which could not be stopped by the combination of the 50-day simple moving average and the lower trend line
The USD/MXN currency exchange rate has been trading this summer below the 2016 low level, which marks it at a eight year low. The decline of the rate had been guided down by a resistance line throughout 2022. However, in late 2022, as the pair bounced off the resistance line for a third time, a steep decline started, which
Due to the broader fundamental weakness of the Japanese Yen, the Japanese stock index has continued to surge. Namely, the Bank of Japan has continued with its easy monetary policy that has caused a more than 30% surge from the early 2023 lows up to the July high level. From a technical analysis perspective, the equity index has bounced off
The price for UK's Brent oil brand has been trading in a range around the 80.00 mark just like US crude oil. The reason for the trading has been the OPEC+ cartel's actions. The cartel has been adjusting its production capacity to the global demand in an effort to keep the prices around the 80.00 mark. Most recently, the commodity
Since the middle of July, the EUR/NOK currency exchange rate has been squeezed in between the support range at 11.10/11.20 and resistance of the 200-day simple moving average near 11.30. A decline below 11.10 is highly likely set to look for support in the 11.00 mark and other round levels. Note that the 10.80, 10.60 and 10.40 levels have acted
For most of 2023, as the USA tightened their policy and set export sanctions on China, the Chinese government continued to ease its policy and weakened the Yuan and the Chinese stocks. As a result, the Chinese top 50 stock index declined in a channel down pattern. The decline has ended due to a fundamental and a technical
In general, the surge of the USD/JPY has been caused by the weakness of the Japanese Yen. Namely, the Bank of Japan has kept its monetary policy easy, as it does not have to fight inflation. The US Federal Reserve has hiked interest rates and increased demand for the USD. The equation is simple. However, it is not the
Throughout 2023 OPEC+ cartel has kept crude oil prices steady at its desired range, as it adjusts production to its liking and the global demand, inflation trends. In general, the price has been kept between support range at $63.75/$65.70 and resistance at $81.20/$83.70. Meanwhile, for short term period the price has been respecting the 50 and 200-day simple moving
By large, for most of 2023 the price for Natural Gas has fluctuated between two zones. A support zone at 2.0000 and resistance at 3.0000. During July, the price was finding support in the combination of the 2.5000 mark and the 50-day simple moving average near that level. Most recently, the 3.0000 mark was approached by the additional resistance