The USDSGD bearish ( long) phase is over , with the pair that now is above the moving average of long period (200) after the last bounce and the RSI oscillator is to 62 The new bullish trend could lead the pair up to reach the level provided by the Fibo arc ( 261%) for July
On the stars and beyond with the USDTRY that in its crazy run increased by 210% since 2010 , making jump many indicators in red zone as the RSI or CCI ( on weekly base on this chart) The resistance provided by the Fibonacci could cause a correction in the next period , in this case i foresee a plunge around 10% for July
The USDZAR bearish trend continue. This trend is began in the Jan of 2016 , after the last peak , and caused a correction by 25% since then . In the last period there was a bounce that however don't breach neither the moving average of long period nor the Darvas box pattern In the next days this bounce should fade , because it have just reached a resistance provided by the Fibonacci circles that in my view should restart the pair 's drop
The ZARJPY bullish trend , began in the Q3 of 2016 , is below its last peak by 5% but however is up by 41 % from its start and still above the moving average of long period Taking in account of the bullish signal coming by the CCI oscillator ( a valid signal for medium period trend ) seems easy foresee a further increase , at least up the next resistance , provided by the Fibonacci expansion
The silver don't seems able to breach the static support placed to 16 ,t despite several attempt to breach this level . At the moment the Stochastic oscillator indicate a probable increase from the current level My expectation is for a bounce in the next period , with the silver that could reach a new maximum for the 2018. This level should coincide with the static resistance (S2) provided by the Woodie pivot points
The price 's oil went up by 65% since Sept 2016 and close to 80$ for barrel , a situation that overheated the Brent , as show clearly the RSI ( 74) and the CCI ( 102) oscillators So in my opinion the oil shouldn't breach the R1 resistance ( Woodie pivot point) that correspond at the oil 's current level but fall , down to the S1 level for July
The ASX 100 ( Australian stock index ) after the last bounce reached the static resistance placed to 6150 points , an event that caused an immediate correction , with weakness signals that coming by the Stochastic and CCI oscillators In my view should to be a new bearish phase in the coming weeks , that could lead the index toward the minimum of the year
The SMI ( Swiss index) is down by 5% from the peak reached in Jan and still in bearish trend . Is below the moving average of long period ( 200) and the Stochastic Fast oscillator is to 40 Taking account of these signal a foresee a further decline for the next period , a phase that could follow the pattern that i drew on this chart whit the help of Fibonacci arcs and Pitchfork's Channel
The DAX index recovered 12% from the last fell , caused by the static resistance placed to 13500 points . This bounce have overheated some important oscillators as the CCI and RSI , both in overbought at the moment Such set could cause a new weakness in the coming weeks with the index that could restart its decline , reaching again the minimum of the year
Despite the last bounce of 10% the Ibex index ( Spain) is still in bearish trend ,as you can see on this chart where the index is in a bearish channel and below the Darvas box pattern In my view the Ibex index should continue in this direction for the coming period , at least to down to touch the 50% level ( Fibonacci)
The static resistance placed to 3700 caused a correction in January in the Euro Stoxx index an event that switch in bearish the index main trend , in fact despite the last bounce the index remain well below the Darvas box At this point a deep plunge is probable , considering the high volatility viewed this year , i expect the Eurostoxx will fall at least to 3260 points for July
The CAC 40 ( France) after breach for briefly the static resistance placed to 5550 is now again around that level , after a correction due an overbought situation . A correction that could continue as show the CCi and Stochastic oscillators In this case we could to have an acceleration in the correction , because in the past the index is increased a lot and the Fibonacci Arcs provided the first support around 5000 points ( -10% from the current level ) .
The FTSE 100 increased by 15% from March 22 ( green candle) a bounce that caused an overheated situation ( look at the CCI and RSI on this chart ) so is natural see a correction at this point Such correction should go ahead at least down reach the support provided by the Fibonacci expansion ( 59,6% ) , that seems an ideal target for July .
At the moment we have two strong bearish signal on the HANG SENG index . The first one is a signal valid for a trend of long period , i speaking about the Darvas box ; after that we have a bearish signal for medium / short term that come by the WillR oscillator In my opinion such set should drag down the Hang Seng toward the support provided by the Fibonacci Expansion , i mean 100% level
The Nikkei attempt to recover appear failed, in fact it didn't able to breach the static support placed to 23000 points and now the CCI oscillator is to -74 . In the coming weeks the Japanese index could to follow the Pitchfork's channel present on this chart , that could lead down the index , toward the support provided by Fibonacci ( 38,2% ) for July
The Down Jones index remain in bearish trend this year , despite the latest recovery ( green candle) it is still well below the Darvas box pattern. A trend that could suffer an acceleration in the coming period , considering the historical overbought situation , and bring the index at the S3 level ( Woodie pivot points ) that mean a fall beyond 10% from the current level
The SP500 is going far from the peak reached in Jan , drag down by a bearish trend that in this appear ready to accelerate , as show the Stochastic and WillR oscillators The US index should breach definitively the 23,6% level , after several failed attempt in the first part of the year , and go down , at the key point of Fibonacci support ( 50%) .
The NASDAQ index ( finally) appear ready for a correction after years of continue increase . It don't seem able to breach the static resistance placed around 7000 while the volatility have reached a peak never see in the past 6 years ( as show the ATR indicator ) A further confirmation of this overheated situation come by the Stochastic oscillator , i expect that the index will be around the minimum of the year for July , that mean -10 % from the current level
The gold bullish trend began in the 2016 , when the XAU breached the resistance provided by the Fibonacci Line , with the gold that increased in constant way begin to 2017 ( red channel) The main obstacle in this trend seem to be the static resistance placed to 1360 , that it been reach several times in the past , but not overtook
The light oil ( WTI) is went below Darvas box pattern , after a long bullish trend . Beside this event there is another bearish signal come by MACD oscillator Such set should cause a further correction in the coming period , with the S1 support ( Woodie pivot points ) that should to be reached for July