Weekly Trends - S&P 500, Gold, Crude Oil, EURUSD, KOSPI, RTSI

This weekly Trend Analysis table uses a proprietary algorithm to identify trend direction, strength of trend, & entry/exit signals. It also indicates key support/ resistance levels based on traditional technical analysis.

Last weekend it was mentioned in this weekly report that some major trend reversals are forming, and the week did saw upward movements in gold, crude oil, and EURUSD. There are increasing possibilities of end of their long term downtrend. As mentioned earlier, Russian index RTSI has also bounced riding on crude and S&P 500 has maintained its uptrend.

GOLD	PCP	1226.50	ACTION	Hold long	S2	1200
	TREND	Down	STRENGTH	Low	S1	1220
	POSITION	Near swing bottom			R1	1240
	REMARK	May consolidate between 1150 - 1300. Its short term downtrend is weakening. Investors may accumulate on dips.			R2	1265
CRUDE	PCP	52.78	ACTION	Hold long	S2	47
	TREND	Up	STRENGTH	Low	S1	50
	POSITION	Long duration charts are indicating a bottom			R1	57
	REMARK	Long term trend is still down though it is weakening. Crude is in short term uptrend and if it sustains above 57 then a major uptrend may be considered. Avoid shorts.			R2	61
S&P500	PCP	2096.99	ACTION	Hold long	S2	2065
	TREND	Up	STRENGTH	High	S1	2090
	POSITION	Mid cycle			R1	2115
	REMARK	Avoid short selling			R2	2145
KOSPI	PCP	1957.50	ACTION	Buy on dip	S2	1922
	TREND	Up	STRENGTH	Low	S1	1950
	POSITION	Near short term top, long term bottom			R1	1963
	REMARK	Long term downtrend is weakening and last month's low of 1876 may be bottom for this swing. Prefer buying on dips near 1950.			R2	1990
RTSI	PCP	914.05	ACTION	Buy	S2	830
	TREND	Up	STRENGTH	Medium	S2	893
	POSITION	Near long term bottom, rising in short term			R1	1000
	REMARK	Long term down trend is approaching a bottom. Trend is up in short term. Avoid shorts.			R2	1100
EURUSD	PCP	1.1385	ACTION	Buy	S2	1.100
	TREND	Down trending	STRENGTH	Low	S1	1.126
	POSITION	Near long term bottom			R1	1.145
	REMARK	Long term trend is down. An uptrend may form as 1.12 is a multi years support. Traders avoid heavy short positions.			R2	1.167

Abbreviations used -

• PCP = Previous closing price
• S2 = Second support, S1 = First support
• R1 = First resistance, R2 = Second resistance