USD INDEX
Yesterday’s pause was followed up with sellers making a strong push lower resulting in price action back bellow the 100.00 mark. The sell-off was enough to signal a reversal on the shorter 4 hr time-frame. Buyers remained on the sidelines. Bearing in mind the recent strong performance of the USD, the turnaround can be seen as a natural retracement, coupled with a bout of profit taking as opposed to a shift in (positive) sentiment towards the USD. Resistance at 99.93 with support at 99.49.
S&P 500
The current downtrend picked up steam with a 5th consecutive lower high on the charts, and signalled a 6th red candlestick from the past 7 days. As prices have moved further from last week’s record highs, it appears profit takers joined the recent sell-off today. Note that the index moved lower in tandem with the USDX, as opposed to the traditional inverse relationship between the 2 major assets. Resistance at 6843 with support at 6732.
GOLD
Gold held it’s own after a brief rally, only to end the day just slightly higher than where it started. The downtrend remains in place although today’s candlestick does reflect a higher high and higher low on the chart. Note buyers were once again unable to maintain above the pivotal $4000 level, as the price range continues to narrow down forming a symmetrical triangle? sign of a potential breakout. Resistance at $4019 with support at $3962.
BRENT OIL
Although sellers won out, just slightly, the doji-like candlestick reflects indecision and lack of direction from both buyers and sellers. The trend points downward with economic uncertainty and lack of supply concerns adding to the downward bias. Resistance at $64.35 with support at $62.79.
BITCOIN
Sellers wiped out yesterday’s brief fightback as lack of demand saw price activity add to the strong downtrend. Buyers will get the opportunity to attempt another fight back from the $100K-$101k area, as sellers aim to retest below the all important $100K level. Note sellers have attempted to break below the current support area (unsuccessfully) several times since June 2025, with buyers stepping in and guarding the support. Resistance at $104.2K with support at $100.1K.
