Tue. Oct 19th, 2021

The NAS 100 tests a new resistance


The Nasdaq 100 fell after the minutes of the Fed meeting increased the odds of shrinking. The fall below 14880 has provoked a strong bearish momentum as leveraged buyers were forced to close their positions.

The market remains cautious as the RSI withdraws from an oversold situation. A bounce might be short-lived if you don’t lift bids close 15040.

Lack of support can send the index to critical support of 14600 in the daily chart. A breakout could lead to a bearish investment in the medium term.

AUDJPY sees limited rebounds


The Australian dollar struggles as job data suggests fewer people are looking for work amid the blockages.

The couple heads to 77.50 as impulse traders took control of price action.

The divergence between the 20- and 30-hour moving averages suggests an increase in sales. The sentiment would remain baffled as long as the Aussie is below average.

Although a limited rebound is likely to allow the RSI to return to the neutral zone. Bears would be eager to add stakes near resistance 79.50.

USOIL is reduced to daily support


Oil prices are collapsing amid concerns over weaker demand and rising U.S. inventories.

The downward trend picked up strength after WTI fell below the double bottom at 65.20. Last May is low at 61.70 it is an important support from the daily time period.

As the RSI recovers from an oversold situation, traders could be waiting to buy the deposit in the demand zone. However, his infraction could threaten the 16-month concentration.

To the advantage, buyers will need to clarify 67.50 before they could not expect a significant rebound.

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