Technical Analysis

USDJPY is reaching strong upside resistance of 136.50 which is also a 38.2% Fibonacci retracement of the swing down. A break above this level is required for the upside continuation and a test of the more important 139.50 upside resistance. It is also at the top of the channel.   […]

Copper pulled back from the 2023 high of 4.400 to test a strong downside resistance which was broken to the upside of 3.9245. A break below this level could lead to a downside reversal and a test of 3.8000. A bounce from here is required for the upside extension and

DXY pulled back from 2023 low of 100.650 to test a neckline of the previous top swing formation and a strong downside resistance which was broken to the downside of 103.900. Rejection from this level would lead to a downside continuation and a break above is required for the upside

Russell2000 moved firmly higher in Q1 2023, forming a flag inside a long-term consolidation triangle, and has tested 2000 recently for a higher breakout. A break above 2000 is required for a continuation higher to 2150.  .     On the weekly RUSSELL200 chart, a breakout higher above the long-term

With so much analysis last year that we will face an immediate market crash, NASDAQ turned higher from 10800 and started the Q1 of 2023 with a substantial gain in the first month and is reaching 13000 which is a strong upside long-term resistance. It also marks Fibonacci’s 38.2% retracement