Nasdaq 100 shows negative divergence while EUR/USD recovers and WTI tests key resistance

​​​Nasdaq 100 trades below its June high

​The Nasdaq 100 continues to trade below its 4 1/2 month high at 21,891 but remains short-term bullish while Thursday's low at 21,473 underpins on a daily chart closing basis.

​Since negative divergence can still be seen on the daily Relative Strength Index (RSI) renewed consolidation may soon be seen.

​Support can be found around the 21,611 late May high ahead of last week's 21,473 low and the April-to-June uptrend line at 21,431.

​A rise above last week's 21,891 high would likely engage the late January high at 21,945 and the psychological 22,000 region.

​EUR/USD tries to regain upside momentum

EUR/USD's rally off its $1.1211 late May low and subsequent rise above its $1.1418 May peak to last week's high at $1.1495 has been followed by a minor sell-off to Friday's $1.1372 low. While it underpins, a retest of the $1.1500 region and perhaps the April peak at $1.1573 remains at hand.

​Potential slips below Friday's $1.1372 low may find support between the 21 May high at $1.1363 and the 4 June low at $1.1357. Were this area to give way, the February-to-June uptrend line at $1.1306 may be revisited.

​WTI tries to overcome resistance zone

​On Monday morning the price of WTI crude oil nearly succeeded to break through its late April-to-May $63.86-to-$64.83 per barrel highs which so far act as resistance, though.

​While the 55-day simple moving average (SMA) at $62.80 and the 4 June low at $62.21 underpin, though, the odds favour a break through the key $63.86-to-$64.83 resistance zone with the 200-day SMA at $68.56 representing an upside target.

​On the way there minor resistance may be encountered around the 5 March $65.25 low, the 11 March $65.32 low and the 19 March $66.12 low as well as the 31 March low at $68.87.

​Immediate support can be seen around the $63.86 mid-May high and at $63.04 late May peak.