MSCI WORLD STOCK INDEX – Unchanged from yesterday: “Prices surged sharply higher, taking out resistance at $1131.35, the June swing high. From there, the door is open for a challenge of May’s top at $1158.71.”
US DOLLAR INDEX – Unchanged from yesterday: “Prices have taken out support at 82.11, the 76.4% Fibonacci retracement of the 4/12-6/7 upswing. Still, positive RSI divergence continues to hint that a rebound is in the works in the near term, albeit from a lower base. Continued selling is eyeing a move toward April’s swing low at 80.07.”
CRUDE OIL – The bullscontinued to press higher, taking out key resistance at the top of a rising channel set from May. From here, the door looks open for an advance to the 2010 top at $86.84.
GOLD –Prices are re-testing support-turned-resistance at the intersection of a rising trend line established from the low in February and the top of a falling channel established from the swing high in June (now at $1197.30). The proximity of the psychologically significant $1200 figure further reinforces this barrier. A break higher initially exposes $1215.47.
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