USD INDEX
Buyers stepped in today putting a halt to the losses incurred over the previous 4 days. Notwithstanding the dollar’s fightback, the strong downtrend remains firmly intact with a lower high reflected on the daily chart. (Note the bounce from October 29th from same support area.) Buyers will aim at 99.00 as a first target in reversing the trend. Resistance at 98.70 with support at 98.41.
S&P 500
Neither buyers or sellers were able to hold onto intraday moves with the price ending the session back where it started. A doji-like candlestick confirms the indecision. Today’s inactivity had no effect on the daily trend, although technically adding a higher high and higher low to the established uptrend. Resistance at 6880 with support at 6837.
GOLD
A quiet day for the metal which continues to cling to the $4200 area, as it has done throughout the week. The sentiment feels as though buyers are taking a well-earned rest following the record-breaking rally throughout the year. Safe to say that the commodity has not lost it’s safe haven status. Should the next break be to the upside, buyers will look up at the $4300 mark. Resistance at $4218 with support at $4174.
BRENT OIL
Today buyers were able to hold onto early gains (unlike yesterday) and go onto establish a higher high and higher low on the charts, gradually adding to the uptrend. While the movement does appear to continue sideways, the activity is a leg higher than we saw last week. As long as fundamentals are not contributing to the moves - neither supply concerns or geopolitical conflicts - current activity does seem to be technically driven, for now. Resistance at $63.59 with support at $62.52.
BITCOIN
The $3K range matched that of yesterday, as sellers erased half of yesterday’s gains thereby putting an end to the 2 day mini rally. Although the daily trend remains up, buyers have a long way to go when looking up at the $126K record high from October 6 2025. The first hurdle to overcome in an attempt for the cryptocurrency to regain it’s foothold, will be a retest of the psychological $100K level. Sellers will aim below $90K in order to re-establish the preceding downtrend. Resistance at $94.1K with support at $90.9K.
