USD INDEX
A strong day for the USD as buyers recouped most of Friday’s losses, and in so doing got the uptrend firmly back on track. Note the loosely formed symmetrical triangle with the price range showing signs of narrowing. Resistance at 99.10 with support at 98.59
S&P 500
A gap up to start the week with buyers adding to the rebound following Friday’s extreme sell-off. With the index still a long way off from last week’s record highs, buyers will aim to add to the bounce up and confirm demand for US equities, which has been in place since April 2025. Sellers will look back down at the 6600 support area with profit taking sure to re-enter the picture should demand appear to weaken. Resistance at 6696 with support at 6640.
GOLD
The USD strengthened, the major US stock markets rebounded modestly following Friday’s breakdown?so how would gold react? Just as expected, the new week started with a new record high as demand for the safe haven commodity continues to break new ground as prices enter unchartered territory. The rallies are sharp as sellers are quick to move out the way and remain on the sidelines. Resistance at $4120 with support at $4022.
BRENT OIL
With a gap up to start the week, buyers were unable to add to the open price as sellers maintained control and the downtrend remains intact. Sellers will aim to retest the $62 support area on the downside, while buyers look above $64 as a first step in reversing, or at least halting the downtrend. Resistance at $63.95 with support at $63.05.
BITCOIN
Buyers added modestly to yesterday’s fight back in an attempt to recoup the heavy losses from Friday’s sell-off. Although the trend clearly remains down, sentiment towards the cryptocurrency has been largely positive and as long as there is demand, the lower prices may well be seen as a buying opportunity. Resistance at $116K with support at $113.6K.
