Technical Analysis 21 April 2011

Technical Analysis 21 April 2011

Indices Technical Analysis
	Dow Jones Index
	S&P 500 Index
	Nasdaq Index
Forex Technical Analysis
	Euro / Dollar
	Dollar / Yen
	Sterling / Dollar
	Dollar / Swiss Franc
Commodities Technical Analysis
	Commodities Analysis

Daily Technical Analysis report discussing Support and Resistance Levels and Indicators such as Stochastics and the RSI for major FX markets, the Dow Jones, S&P 500 and NASDAQ.

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Today’s Technical Analysis:

Technical Analysis - 21 April 2011

Indices Technical Analysis

Dow Jones Index Technical Analysis

DJI closed higher on Wednesday and posted a new high for the year, extending the rally off the 2009 low. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If the Dow extends this rally, monthly resistance crossing is the next upside target.

S&P 500 Index Technical Analysis

SPI closed higher on Wednesday and above the 20-day moving average crossing confirming that a short-term low has been posted. The high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term.

Nasdaq Index Technical Analysis

NDI closed sharply higher on Wednesday above the 20-day moving average crossing confirming that a short-term low has been posted. The high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term.

For another view also see Indices Trading News
For more information on speculating on indices see Indices Spread Trading

Forex Technical Analysis

Euro / Dollar Technical Analysis

EUR/USD closed higher on Wednesday as it renewed this year's rally. The high-range close sets the stage for a steady-to-higher opening on Thursday. However, stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends this year's rally, weekly resistance crossing is the next upside target. If it renews Monday's decline, the reaction low crossing is the next downside target.

Dollar / Yen Technical Analysis

USD/JPY closed slightly higher on Wednesday and the low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, the 50% retracement level of the rally off March's low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.

Sterling / Dollar Technical Analysis

GBP/USD closed higher on Wednesday and posted a new contract high. The high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off March's low, weekly resistance crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

Dollar / Swiss Franc Technical Analysis

USD/CHF closed lower on Wednesday and posted a new contract low as it renewed this year's decline. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are turning neutral-to-bullish hinting that a short-term bottom might be in or is near. If it extends this year's decline into uncharted territory, downside targets will be hard to project. Closes above the 20-day moving average crossing would confirm that a short-term bottom has been posted.

For another view also see Forex Trading News
For more information on speculating on forex see Forex Spread Trading

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'Technical Analysis 21 April 2011' edited by PipTrade, updated 21-Apr-11

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