The test above the 11461.50 Fibonacci retracement has given way to consolidation.
Daily stochastics are negative and the proprietary Tension Indicator is close to generating a bearish signal, suggesting increased downside risks in the coming sessions.
A close below the 11200 pivot will add weight to sentiment and open up deeper reactions towards the 11003.37...
Extending gains towards strong resistance at the 11183.01 monthly high of 19 September.
Daily momentum and the Tension Indicator are positive, highlighting an improvement in daily sentiment and scope for a break towards the 11461.50 retracement.
However, weekly charts are mixed/negative, suggesting increased selling risk towards here.
Support is at congestion...
The previous push above the 1.0825, (38.2%) Fibonacci retracement of the May-December fall and the 1.0870~ high of December 2016 has not been sustained, with EUR/USD falling back into range.
Downside risks, however, are expected to remain limited, as momentum studies continue to strengthen and positive divergence unwinds. In the coming months, fresh gains are...
The anticipated pullback is unfolding, with the UK FTSE100 Index falling sharply to the 7093.57 low of February.
A short-term bounce is possible, as oversold daily studies unwind. Weakening momentum studies and the bearish Tension Indicator (not shown) should limit scope.
In the coming weeks, further downside tests are looked for, as investors adopt a cautious...
We have updated our monthly publication - US Sectors Relative to S&P500.
It is an overview of the major US sectors, and covers, amongst others, Consumer Discretionary, Consumer Staples, Energy, Healthcare, Technology and Financials.
Within several ratings changes, we have Downgraded Financials to Underweight.
On an absolute basis, the US Financials ETF XLF is...
A more cautious tone is appearing across global equity markets.
Further gains to prove increasingly difficult to maintain.
China poised to break higher?
Global equity markets remain in their dominant bull trends.
Investor portfolios are overweight and investor sentiment is positive.
However, warning signals are now appearing, suggesting further gains are...
GBP/USD is trading higher once again, in line with improving weekly and monthly studies.
A close above the 1.2615 high of March will target critical resistance at the 1.2775 high of December.
A later close above here will confirm a significant rally, as the October 2016 bull trend gains traction and investors adopt an outright bullish stance.
Under pressure. Focus on critical support at the 7093.57 low of February. A break beneath here would turn investor sentiment outright bearish, and confirm a more significant bear trend as the fall from the 7447 high of March gains traction.
AUD/USD is finding support above the 0.7455 (50%) Fibonacci retracement and 0.7450 congestion area. Rising short-term studies suggest potential for a push above congestion around 0.7600.
However, mixed weekly readings are keeping investors cautious of further strength, with the 0.7680 high of 30 March to prove difficult to reach
Consolidation is highlighted,...
There are further signs of bullish trend development in the VIX.
Prices are now trading above congestion around 15.00 as momentum studies post positive divergence and continue to strengthen. The proprietary Tension Indicator (not shown) is also improving.
In the coming months, expectations are for higher levels to attract, with focus turning to congestion around...
Gold prices have extended the rally from the USD1194.55 monthly low of 10 March. However, the push above the USD1263.95 high of February has met with a sharp reaction as overbought short-term studies unwind.
Risk remains for a corrective pullback towards the USD1226.96 low of 21 March and the USD1217.50 break level, but improving weekly studies should limit any...
Short-term corrective gains from the 2326.50, (23.6%) Fibonacci retracement are underway.
Immediate focus is on the 2390.01 high of 15 March, but difficulty is seen maintaining any tests, as momentum studies and the bearish Tension Indicator (not seen) continue to weaken.
Increased selling pressure is expected to keep prices under pressure, with a later break...
GBP/USD continues to extend gains.
Focus is now on the 1.2706 0.77% high of February, with rising momentum studies and the improving Tension Indicator (not shown) anticipating a further break towards critical resistance at the 1.2775 high of December.
A later close above here will confirm a significant rally, as the October 2016 bull trend gains traction and...
The UK FTSE100 Index is finding difficulty maintaining higher levels as negative divergence unfolds on weakening momentum studies. The Tension Indicator (not shown) is also showing signs of negative divergence as it, too, turns down.
Investors are expected to continue reducing positions.
A break below the 7255.78 low of 27 March is highlighted, with the 7192.94...
Gapping higher to test 120.00.
Consolidation to develop, with limited downside tests.
Fresh gains confirmed above critical resistance at 120.40.
Bull Signal intact at 116.73
Stop has been raised to 118.84
Break below 25.65 putting focus on the 25.40, (50%) Fibonacci retracement of the 2016-2017 rally.
An unexpected close above 25.65 will help to stabilise prices.
Bear signal from 26.15 intact.
Stop lowered to 25.71
Short-term consolidation is underway, with Crude Oil prices currently balanced around the USD47.20, (61.8%) Fibonacci retracement.
However downside risks remain in force as bearish weekly studies deepen.
Further weakness is looked for, with a break below the USD47.01 low of 22 March opening up the USD45.28, (76.4%) retracement. Still lower is the USD44.82 low of...