Cramer's Corner Daily Technical Update

In today’s Technical Update:

• S&P 500. Shoulder-Head-Shoulder pattern demolished. Resistance at 4,527. Key support at 4,340.
• Nasdaq 100. Downtrend cancelled. Uptrend likely to resume
• Hang Seng closing below resistance at 18,562. A close above could lead to 19K. But is likely to resume downtrend
• DAX Key resistance at 16,060. Above – uptrend. Key support at 15,482
• AEX25 Range bound between 730 and 750. Strong resistance 763Next support at 716. Resistance at 748
• BEL20. Key support at 3,550. Strong resistance 3,700
• CAC40 above falling trendline. Uptrend resumed but not confirmed by RSI  
• EURUSD downtrend but could see a short-term bounce to 1.0970. Testing falling trendline
• Dollar Index uptrend but correction likely down to 103-102.40 before uptrend likely to resume
• GBPUSD downtrend. Hovering around key support at 1.2590. Could drop to 1.24
• USDJPY uptrend intact. Strong resistance at 146.55. A close below 144.50 expect correction to 143
• EURJPY range bound 156.85 – 159.50 but room to 160.60-162
• Gold trying to build uptrend. If closing above 1,947 uptrend likely to be confirmed
• Silver
• Platinum uptrend
• Palladium range bound
• Brent resuming uptrend. Resistance at 88.20 is key
• US 10-y Treasury yields top and reversal pattern could correct to 4.10-4.00

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