Indices start Monday With a Bearish Correction

It’s correction day for indices.

The DAX is coming back to test the broken down trendline.

The SP500 so far is seeing the first bearish candle in three days.

The FTSE is in a nasty looking bearish engulfing pattern.

The Nasdaq is actually looking the best out of the four indices. The correction here is almost invisible.

The EURUSD is bouncing from an important horizontal resistance but it seems that buyers may have an appetite to test the 38,2% Fibonacci.

The USDCAD finally initiated a bullish correction after a quite heavy drop in the past few weeks.

The NZDUSD created a shooting star on an important dynamic resistance. It can be a great occasion to sell and in case of a breakout, to go long.

Silver is still above the 38,2% Fibonacci and as long as it stays there, positive sentiment is still alive.

Gold on the other hand is exactly in the middle between crucial horizontal resistance and support levels. As long as the price stays there, both directions are equally closed and opened.

For a look at all of today’s economic events, check out our economic calendar.