Technical Analysis 27 July 2010

Technical Analysis 27 July 2010

Indices Technical Analysis
	Dow Jones Index
	S&P 500 Index
	Nasdaq Index
Forex Technical Analysis
	EUR/USD
	USD/JPY
	GBP/USD
Commodities Technical Analysis
	Gold
	Crude Oil

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

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For today’s report see: Technical Analysis.

Technical Analysis - 27 July 2010

Indices Technical Analysis

Dow Jones Index Technical Analysis

DJI closed lower on Monday but the high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are turning bullish signalling that additional gains are possible near-term. If the Dow extends this month's rally, June's high crossing is the next upside target. Closes below Tuesday's low crossing would confirm that a short-term top has been posted.

S&P 500 Index Technical Analysis

SPI closed higher on Monday extending the rebound off Tuesday's low. The high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are turning bullish signalling that sideways-to-higher prices are possible near-term. If it extends this month's rally, June's high crossing is the next upside target.

Nasdaq Index Technical Analysis

NDI closed higher on Monday as it extended the rally off this month's low. The high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are bullish signalling that additional strength is 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

EUR/USD Technical Analysis

EUR/USD closed higher on Monday as it consolidates above the 10-day moving average crossing. The high-range close sets the stage for a steady-to-higher opening on Tuesday. However, Stochastics and the RSI have turned bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it renews the rally off June's low, the 38% retracement level of the 2009-2010-decline crossing s the next upside target.

USD/JPY Technical Analysis

USD/JPY closed lower due to profit taking on Monday. The low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are diverging and are turning bearish hinting that a short-term top might be in or is near. Close below the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends the rally off May's low, last November's high crossing is the next upside target.

GBP/USD Technical Analysis

GBP/USD closed higher on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are turning neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it resumes the rally off May's low, the 50% retracement level of the 2009-2010-decline crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

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

Commodities Technical Analysis

Gold Technical Analysis

Gold closed lower on Monday and extend the decline after a short covering bounce off the 38% retracement level of this year's rally crossing. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are oversold and turning neutral-to-bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the decline off June's high, the 50% retracement level of the aforementioned decline crossing is the next downside target.

Crude Oil Technical Analysis

Crude Oil closed unchanged on Monday and the high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, June's high crossing is the next upside target. Closes below last Tuesday's low crossing would temper the near-term friendly outlook.

For another view also see Commodities Trading News
For more information on speculating on commodities see Commodities Spread Trading

The contents of this report are for information purposes only. It is not intended as a recommendation to trade. Neither CleanFinancial.com nor PipTrade accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.

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'Technical Analysis 27 July 2010' edited by paddypowertrader, updated 27-Jul-10

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