NAS100 remains choppy
The NAS100 (Nasdaq) pulled back slightly after last week’s historical gains, which saw over 3000 points added to the index value. On the chart, a decisive break above 18800 would hint at another push higher in the days to come. The long-term focus on stocks and indices will make sellers wonder if a correction will happen, with a potentially limited pullback with 17600 as the first support. A pop above 19200 would give Bulls hope of another potential rally.
USDJPY hitting fresh lows
The US dollar feels the squeeze as the strength of the Yen drags the pair lower. The pair has hit a multi-month lower dating back to September as the sell-off continues. A break below 142.00 could extend the rally to 141.50. 144.00 at the top of the last uptick is the first level of resistance, and 142.20 is a critical floor to keep the pair elevated.
XAGUSD bounces higher
Silver continues upward as the metal market rally ensues. After finding some support in the mid $30 area, prices have managed to progress further. The precious metal took note of the recent bounce on the RSI after previously dropping away from this month’s high at 34.50. Another bullish breakout needs a close above 32.00. In the meantime, 30.80 is the first support in case of a pullback.