MSCI WORLD STOCK INDEX – Prices have taken out support at $1131.35, the 6/21 wick high that previously acted as resistance and had been re-cast as support. The bears now poised to challenge resistance-turned-support at a rising trend line set from May’s swing top, now at $1098.30.
US DOLLAR INDEX – Prices have taken out the top of a falling channel that had contained prices since they topped out in June as well as overcome the 23.6% Fibonacci retracement at 82.12 having bounced from key support at 80.07, the April swing low. From here, the bulls aim to challenge the 38.2% Fib at 83.37.
CRUDE OIL – Prices have declined to meet support at the bottom of a rising channel set from the low in May. A break lower exposes the 38.2% Fibonacci retracement of the 5/20-8/4 rally at $75.82.
GOLD –Prices remain wedged between the broken top of a falling channel set from the swing high in June (now acting as support) at $1132.90 and horizontal resistance at $1215.47. A move above that barrier will open the door for a challenge of the record high at $1265.30.
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