Nikkei 225 Index
- The Nikkei 225 Index is trading within an upward sloping trend channel (white), with prices recently tagging the lower range of the channel
- The lower range also currently coincides with a major support area (green), which aligns with the previous pivot high acting as support
- Should prices briefly pierce the lower range and hold support, this may offer an attractive risk/return entry to position with the primary upward trend
Daily chart
Source: Bloomberg. Past performance is not an indicator of future performance. You cannot invest directly in an index.
Fund implementation ideas
| Bullish | HJPN |
|---|---|
| HJPN – Japan Currency Hedged ETF |
The S&P 500 Index
- The S&P500 Index has been trading in a sideways pattern after breaking higher in April 2026.
- Similar to the previous sideways consolidation (green), prices have navigated the highs and lows of the range, but ultimately broke to the upside.
- Should prices clear the all-time highs, the S&P500 maybe following a similar pattern, where an initial rally is followed by a period of consolidation as prices look to establish a new higher base.
Daily chart
Source: Bloomberg. Past performance is not an indicator of future performance.
Fund implementation ideas
Spot Gold
- As mentioned last month, Gold remains within a wedge pattern (white lines), where volatility typically compresses until prices break in either direction
- The point of that wedge narrows into early September, suggesting Gold may be approaching a key decision point for the next key directional move
- Should prices break above the wedge, initial key resistance may sit near the 200-day moving average around US$4,500 (red)
- A break below the lower range could see prices move quickly towards the next major support level at around US$3,500 (green)
Daily chart
Source: Bloomberg. Past performance is not an indicator of future performance. You cannot invest directly in an index.
Fund implementation ideas
About Betashares Technical Watch Series
In this regular monthly Technical Watch series, I provide a snapshot of what I am currently seeing within the charts.
I am aiming to make this series as helpful as possible, so I strongly encourage readers to request a particular analysis from me. To this end, I will try to include at least one ‘reader’s choice’ chart or a chart of particular interest.
When it comes to technical analysis and charting, one should always try to put emotion and personal opinions about the markets aside in order to focus on what the charts are showing. Of course, these notes provide general information only and readers should form their own views about the outlook for markets.