USD INDEX
A strong push higher for the USD across the board, with the index confirming demand for the global currency. However, the downtrend remains intact and price action continues to sit below the ascending trendline. Note the double bottom (reversal sign) which set up today’s green candlestick reflecting a higher high and higher low on the chart. Resistance at 99.49 with support at 99.18.
S&P 500
The major US stock markets were sold-off throughout the session with sellers maintaining control. Today’s support area has been tested several times since September 25th 2025 with the close significantly piercing the ascending trendline which has, to date, halted the bouts of selling. Note the traditional inverse relationship between strong USD and weak equities playing out, with today’s push lower the 4th consecutive red candlestick. Resistance at 6801 and support at 6658.
GOLD
Today signalled the 3rd consecutive day of lower highs and lower lows, enough to reverse the trend and erase the gains made last week. Once again, buyers have guarded the pivotal $4000 level, for now. The sell-off in gold was in contrast to the USD strengthening - inverse relationship between the 2 major asset classes. The status of the safe haven commodity does not appear to be in question and buyers may yet again recognize the lower price as another buying opportunity. Resistance at $4101 with support at $4003.
BRENT OIL
Buyers were not able to hold onto early gains as sellers stepped in and brought prices down to a familiar comfort area, settling near the $64 level. Following last month’s rally (October 22), neither buyers or sellers have held onto, or added to daily moves which has resulted in the current sideways activity. Resistance at $64.70 and support at $63.67.
BITCOIN
Sellers picked up from where they left off last week with another strong sell-off which saw the cryptocurrency continuing to break below significant support levels. Buyers stood on the sidelines as the downtrend picked up steam. Note the RSI (28) now signals oversold conditions, and profit takers may enter the market following the steep move lower from $116K (October 27) down to $91K - two factors which could create a round of demand as price action sits close to the $90K support area. Resistance at $95.9K with support at $90.9K
