Key Technical Ranges for Main Indices

Nikkei 225 stays side-lined

The Nikkei 225 has been sideways buying and selling across the 200-day easy shifting common at 38,284 however beneath the 55-day SMA at 38,577 for the previous week or so. Had been the index to rise above each of the shifting averages, the late July excessive at 39,281 can be subsequent in line.

A slip by way of Monday’s 37,163 low would open the way in which for the 36,000 area to be revisited.

So long as Monday’s 37,163 low holds, the near-term bullish outlook stays intact.

Nikkei Every day Chart

Supply: IG, ProRealTime, by Axel Rudolph

Dow Jones Industrial Common rally runs out of steam

The Dow Jones rally is working out of puff with low volatility and quantity buying and selling being prevalent as traders await Fed Chair Jerome Powell’s speech on the Jackson Gap symposium on Friday for extra clues in regards to the depth and velocity of Fed fee cuts later this 12 months.

Nonetheless the late July peak at 41,207 should be reached. Simply above it sits the all-time document excessive of 41,382. The uptrend ought to keep agency whereas 40,606, Monday’s low, incorporates draw back.

Dow Jones Every day Chart

Supply: IG, ProRealTime, by Axel Rudolph

Nasdaq 100 rally is slowing down

The Nasdaq 100’s rise above the 55-day shifting common at 19,528 and the 19,577 late July excessive has put the 20,006 June excessive in its path.

Earlier resistance round 19,577-to-19,501 ought to now flip to assist as per the inverse polarity precept the place earlier resistance tends to behave as assist and vice versa.

Nasdaq 100 Every day Chart

Supply: IG, ProRealTime, by Axel Rudolph