Financial Markets_Technical_U.S.GDP Report
The performance of the U.S. D, crude oil, gold and global stock indexes have stalled in key technical barriers, as traders are waiting to be guided by the feeling of risk, with Friday's publication GDP figures for the second quarter.
Stock Exchange Index MSCI World - Prices remain tight between the support in 61.8% of reverse Fibonacci in the rebound from July 1 to August 5 ($ 1,076.93) and the line downward trend established in the high oscillation de Mayo (now in $ 1,088.08). Resistance is reinforced by the 50% Fib at $ 1,092.60. The path of least resistance continues to point lower, with a break below support exposing the 76.4% Fib at $ 1,057.54.
INDEX USD - Prices
CRUDE OIL - Prices continue to rise after showing a formation of sailing Japanese investment penetration line upward above the support at $ 73.66, the 76.4% of reverse Fibonacci increase of May 19 to August 4, with the bull market now testing the 61.8% Fib at $ 73.66. A scroll below this limit sets the lower limit of a channel set up in breaking from the floor in May (now at $ 75.89.)
Gold - Prices are testing resistance at $ 1,243.27 horizontal, with a break after this limit presents a full historical record of $ 1,265.30. As mentioned above, however, long-term positioning bearish signals reveals a clearly negative RSI divergence which suggests that a major roof may be taking shape. The confirmation of a downward reversal is consistent with our fundamental outlook that require ere a weekly close below the trend line determined from the variation in the floor of late 2008, now at $ 1,193.24.
Tags: currency, Foreign Exchange, GDP, stock exchange, Trading