USD INDEX
Following 4 days of a gentle push higher, today saw the USD break out with a strong rally and the index go on to retest the high from November 5th. Continued demand for the world’s global currency will see buyers aim to maintain above the psychological 100.00 level. Resistance at 100.15 with support at 99.37.
S&P 500
While buyers defended the 6600 level, again (7th time since September 17 2025), the bounce did not maintain through the US session with limited demand for the index. The brief bounce up was enough to register a green daily candlestick, although the downtrend remains firmly intact. Buyers will aim above the 6700 mark as a first step to reverse the trend. Resistance at $6705 with support at $6612.
GOLD
Buyers took the early lead with an $80 rally through the Asian and European sessions. However, sellers stepped in at the US session which saw almost all of the earlier gains reversed. The steep sell-off coincided with the sharp USD rally through the US session. Notwithstanding a slight green candlestick and a higher high and higher low on the chart, both bias and trend are tilted to the downside. Resistance at $4134 with support at $4055.
BRENT OIL
Sellers won out on the day, erasing the gains from earlier this week. Today’s activity, aside from the push lower, remains within the well-established range which has been in play since mid October 2025. Notwithstanding the current sideways range, the charts do have a bearish feel with a succession of lower highs on both daily and weekly charts. Resistance at $64.34 with support at $62.42.
BITCOIN
Aside from a brief bounce late in the US session, sellers maintained control with another strong day adding a lower low and lower high onto the well-defined downtrend. The $90K support was tested for the 2nd consecutive day and continues to look vulnerable. Note the current support has been checked as a previous resistance level in both March and April earlier this year. As the cryptocurrency trades in unfamiliar territory, moves can be sharp and steep. Resistance at $92.9K with support at $88.4K.
