USD INDEX
Neither side did enough to move the trend, with a doji-like candlestick confirming the stand-off. Buyers will look at the 3rd consecutive higher high and higher low on the chart, within a succession of higher lows on the daily chart, while sellers notice the downtrend remains intact. Resistance at 99.56 with support at 99.28
S&P 500
Sellers controlled activity for the 5th consecutive day with another decisive push lower. The ascending trendline which signalled buyer’s intraday fight backs, did not hold today as sellers broke the level, going onto retest the 6600 support area. Technicals, fundamentals and sentiment are all pointing down. Resistance 6708 and support at 6594.
GOLD
Following an early push lower, buyers stepped in and ended the day with a higher close and enough to signal a green candlestick on the chart. However, there is a technical contradiction as the candlestick added a lower high and lower low to the newly established downtrend. Again, buyers defended the pivotal $4000 support area. Buyers will aim above $4100 (yesterday’s high) to re-establish the uptrend. Resistance at $4085 with support at $3996.
BRENT OIL
Buyers won out today, EMAs crossed to the upside, however price activity continues to remain contained within a well-established range between $63 and $65. Resistance at $64.59 with support at $63.17.
BITCOIN
Buyers stepped in today and put a brief pause to the strong downtrend. Note the bounce was gentle, and although doing enough to record a green candlestick, the candle added a lower high and lower low on the chart. Sellers briefly tested below the $90K level before the bounce up, which feels like more of a technical correction than a demand for the cryptocurrency. Resistance at $93.8K with support at $89.2K.
