MSCI WORLD STOCK INDEX – Prices continue to test resistance at the lower boundary of the $1120.55-1131.35 congestion region. A previously broken rising trend line set from May’s swing top remains as near-term support, now at $1093.66.
US DOLLAR INDEX – Prices continue to consolidate above the 23.6% Fibonacci retracement of the 6/7-8/6 downswing at 82.12. A return to bullish momentum will aim to challenge the 38.2% Fib at 83.37. Alternatively, a move below support opens the door for a re-test of the upper boundary of a falling channel set from the June high at 81.02.
CRUDE OIL – Prices continue to stall at the bottom of a rising channel established since late May, now at $75.20. A rebound sees initial resistance at $79.38, with a break beyond that exposing $82.64. Alternatively, a move to the downside exposes $72.07.
GOLD – The bulls appear to have reasserted themselves after pausing yesterday, with prices resuming their advance after taking out horizontal resistance at $1215.47 earlier in the week en route to challenge $1243.27. The $1215.47 level has now been re-cast as support.
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