Technical Analysis Review 5/25/15

Key Points:

• S&P 500 is in a short-term consolidation above major support

• TLT is consolidating under resistance

• Oil is in a short-term consolidation

• US Dollar breaks above resistance

• Euro breaks through support

S&P 500 (Daily):

 

S&P 500 broke above major resistance last week. It is currently in a short-term consolidation and it is expected the uptrend will continue.

 

TLT (Daily):

 

 

Bonds have broken multiple support lines and is currently in a short term consolidation. It is expected that the downtrend will continue.

 

 

WTI (Daily):

 

 

Oil is in a currently in a short-term consolidation. It is expected the uptrend will continue.

 

US Dollar (Weekly):

 

 

After breaking major support, the US Dollar broke again above it. A trader should target the recent highs but be wary that a head and shoulders pattern may develop.

Euro/USD (Daily):

After breaking up from a double bottom, the Euro broke down through support. The recent swing low should be the target.

FXI (Daily):

 

 

China is current in a intermediate consolidation. It would be expected that the uptrend will continue.