MSCI WORLD STOCK INDEX – Prices continue to consolidate below 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 $1092.73.
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, now at 80.88.
CRUDE OIL – Prices have taken out the bottom of a rising channel established since late May clearing the way for move lower to challenge $72.07. Near-term resistance lines up at the $75.00 figure.
GOLD – Prices have extended gains toward horizontal resistance at $1243.27 having taken out the barrier at $1215.47, which has now been re-cast as support.A break past this boundary exposes the record high at $1265.30.
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