MSCI WORLD STOCK INDEX – Prices surged sharply higher, taking out resistance at $1131.35, the June swing high, with May’s top at $1158.71 now lining up as resistance. A break above this juncture would expose the psychologically significant $1200 figure.
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 – Prices are testing resistance at $82.55, the 138.2% Fibonacci extension of the 6/28-7/6 downswing having bounced from the bottom of a rising channel set from the low in May. A Shooting Start candlestick formation hints that a reversal lower may be next, with initial support at $79.38. Alternatively, a break higher exposes $84.50.
GOLD –Prices are testing resistance at the top of a falling channel established from the swing high in June (now at $1195.18). The proximity of the psychologically significant $1200 figure further reinforces this barrier. A break higher initially exposes $1215.47.
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