USD INDEX
A 6th consecutive red candlestick as sellers added to the downtrend with a strong push lower. The momentum picked up steam with fundamentals, technical and sentiment all contributing to the bearish tone. Note the uptrend from September 17th 2025 has been broken to the downside. Resistance at 99.49 with support at 98.85
S&P 500
Major US stock markets were sold across the board. An extreme sell-off in the S&P saw the index take out all lows from the week with sellers remaining on the sidelines. Today’s activity triggered a new downtrend, reversing the mini rally from earlier in the week. Resistance at 6892 with support at 6743.
GOLD
An early rally was short-lived as sellers entered the market early in the US session and went onto end the day with a lower close and put a halt to the week-long rally. Sellers were ready to add to the initial retracement with October’s sharp sell-off still fresh in trader’s minds. Notwithstanding the red candlestick, the uptrend remains intact with today’s higher high and higher low on the chart. Resistance at $4245 with support at $4142.
BRENT OIL
Following a slight gap down at the open, buyers did put a stop to the selling with a gentle push higher off the support area. Demand was limited as the downtrend remains in place with buyers unable to hold onto the slight bounce up. Buyers aim to retest and maintain above $63, while sellers look below $62. Resistance at $63.43 with support at $62.32
BITCOIN
Today was the 3rd statement day for sellers who continue to break significant levels on the downside. Todays firm sell-off below $100K broke the June 22nd low ($98.2K). Note it was as recent as October 6th that bitcoin reached a record high $126K. RSI reading at 34 on the daily chart is close to signalling that the cryptocurrency is oversold. Profit taking is another consideration for both buyers and sellers to take into account. Resistance at $104K with support at $97.9K.
