USD INDEX
A 3rd consecutive strong day for the USD with higher highs and higher lows on the chart confirming demand. Taking a step back, note the series of higher lows starting September 17th 2025. As the reversal shapes up (EMAs crossing upwards) it does feel that the negative sentiment towards the global reserve currency is showing signs of easing. Resistance at 98.75 with support at 98.28.
S&P 500
A gentle test higher and lower did not amount to much as the index closed back where it started. A doji-like candlestick confirms the lack of direction and the uncertainty. The uptrend remains intact as prices remain close to the 6800 resistance area. Resistance at 6786 with support at 6791.
GOLD
It took along time coming, but the dramatic and sharp sell-off started early and did not let up through the day. Rather than buyers stepping in as prices dropped, sellers stepped in and profit taking took over. Technically the chart patterns - triple top - coupled with the bearish engulfing candlestick, signal a clear reversal, technically at least. The follow up may see buyers eyeing the current level as a bargain, while sellers and profit takers look at joining the sell-off. Resistance at $4372 with support at $4081.
BRENT OIL
Buyers won out on the day, however price activity remains in a contained range at current support levels, hovering around the $61 area. With limited demand for the commodity, both overall trend and bias remain down. Sellers aim below $60 while buyers look up above $61. Resistance at $61.55 and support at $60.12.
BITCOIN
Buyers were unable to sustain an early rally as sellers stepped in as the day ended with a lower close, ensuring the downtrend (EMAs pointing lower) remains intact. The wide swings and volatile price action was evident in a $6.7K trading range. Again, there were pivotal levels which stood out: sellers aiming below $110K while buyers struggle to maintain above $112K. Note the relevance of current support level which has been tested, and held, several times since early July 2025. Resistance at $114K with support at $107.3K.
