USOIL(WTI) staying positive
USOIL(WTI) rallies as demand increases for the black gold. A close above the previous high of 73.00 could be short-lived if the rally hits a roadblock at 74.00. A move back down below 72.70 could force leveraged buyers to bail out, especially if the RSI continues its road towards the overbought area. A move above the said resistance at 74.00 could see renewed interest from buyers. Otherwise, prices will look for the recent bottom at 70.80.
AUDUSD stuck sideways
The Australian dollar remains consolidated after moving away from the 0.6200 level. A brief uptick could shift sentiment. However, a lift back above 0.6300 is required as the RSI drifts into the neutral zone. A deeper correction would test the recent low at 0.6220, and sellers will need to keep the momentum going if prices reach this month’s lows towards 0.6080.
US 30 hitting resistance
The Dow Jones weakens as fewer jobless claims point to a tight US labour market. The choppy consolidation around 44500 has proved to be a challenging level to crack. The price’s sharp reversal from its recent peak suggests that sellers could still have the final word. A clean cut through 44750 and then 44400 has put the Bulls on the defensive. The RSI’s oversold condition could attract some bargain hunters to move prices out of consolidation.