USD Index - Is hoovering around the Pitchfork mid-band and has broken back above the steep falling resistance line from 81.78, which could be a warning, that a bottom is already in place. However we need some more confirmation, but a break above 79.60 will under-pine the possible bottom and call for a move towards 80.35 and a break here will confirm a new rally towards resistance at 81.78.
The risk of cause is, that resistance at 79.60 holds for a break below 78.60, that would call for a decline to the channel bottom near 77.00.
EUR/USD - We might have a top in place, but needs a break below 130.20 to add confidence in the call for a top and a decline towards the 128.58 - 128.78 area. Only a break here confirms the top a calls for a new decline towards strong support in the 125.45 - 126.45 area.The risk of cause is a break above 132.35, that would call for a continuation towards 134.20 area.
GBP/USD - Found resistance in the area between 157.40 - 158.60 and the following break below the steep support line does leave the downside vulnerable for the next test of support at 152.20.
Dow Jones Industrial - Just keeps raising and is now back at the May 2011 top at 12,876. We might be looking at a double top, but until we break below support at 12,676 we must accept the uptrend.Looking at the VIX-Index the complacency has now been bigger since mid-2011 and the divergence of the MACD-Indicator continues to develop and be a warning, that this uptrend isn't as strong as it looks.
Gold - might have seen a top at resistance at 1,761. The bearish engulfing candle is clearly a warning, that some kind of top could be in place. The big question whether a more complex correction since the 1,920 high is building or, this is only a minor reaction, before a break above 1,761 will be seen. Only time will tell, but be flexible.
Crude oil - Has decline since the failed test at resistance near 103.46, but the decline is not yet convincing and we still need a break below support at 92.54 to confirm, that the test of 103.46 was an important top and a new decline towards the 78 area.
Gold - might have seen a top at resistance at 1,761. The bearish engulfing candle is clearly a warning, that some kind of top could be in place. The big question whether a more complex correction since the 1,920 high is building or, this is only a minor reaction, before a break above 1,761 will be seen. Only time will tell, but be flexible.
Crude oil - Has decline since the failed test at resistance near 103.46, but the decline is not yet convincing and we still need a break below support at 92.54 to confirm, that the test of 103.46 was an important top and a new decline towards the 78 area.Risk is a break above resistance at 101.30, that will cause a new rally towards 103.50.
goldman sachs energy index has made an inv h&s pattern and broken out of the same....check it out
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