USD INDEX
Sellers went on to gently add on to the gap lower which stared the day. Today’s candle is the 4th consecutive lower high and lower low on the chart. Although buyers did bounce up off support, the demand for USD appears limited. Sellers will aim below the ascending trendline. Resistance at 98.72 with support at 98.33
S&P 500
A gap higher to start and buyers confirmed demand with a higher close, the 2nd consecutive record high/close for the index. The daily candlestick reflects a 4th consecutive higher high and higher low on the chart. Note the inverse relationship between weak USD and strong equities. Resistance at 6945 with support at 6900.
GOLD
Sellers continued from where they left off yesterday, maintaining below the $4000 level and the ascending trendline. Buyers did step up and put in a strong push higher to recoup most of the earlier losses and close at $3954. Buyers will aim to test and break above the $4000 mark and ascending trendline. Resistance at $4020 with support at $3886.
BRENT OIL
Sellers controlled price activity and added to yesterday’s sell-off. Notwithstanding, the uptrend remains intact. While buyers aim above $66, sellers look below $63 in an attempt to reverse the trend. Resistance at $65.04 with support at $63.46.
BITCOIN
Sellers won out today, although the uptrend remains in place. Buyers were unable to hold above $115K, as the $116K area continues to be well defended by sellers. Notably, buyers did maintain above the $112K mark. Sellers will look below $110K in order to initiate a trend reversal. Resistance at $116.1K with support at $112.1K.
