USD INDEX
Sellers were not able to hang on to the early push lower as buyers stepped in and recouped a portion of the losses, going on to end the day alongside Friday’s closing levels. Note the support matches Friday’s low. Trend and bias point down, as sentiment also appears tilted to the downside. Resistance at 98.10 with support at 97.77.
S&P 500
Sellers added to Friday’s sell-off, doing just enough to signal a new downtrend on the chart (EMAs crossed down). Note the lower high and the support level matching Friday’s low. Stock markets trade nervously with neither buyers or sellers making a meaningful move in either direction. Buyers will aim above 6900 while sellers look down at the 6800 area. Resistance at 6932 with support at 6862.
GOLD
Buyers did just enough to secure a green candlestick, with the daily close matching that of Friday’s close. The uptrend remains in place with a 5th consecutive higher low on the chart. Trend, bias and sentiment continue to confirm demand within a bullish environment surrounding the safe haven commodity. Resistance at $4352 with support at $4284.
BRENT OIL
Sellers controlled activity and added another red candlestick to the well-established downtrend. The support matches the low from October 20th. Buyers remained on the sidelines, unable to initiate a meaningful bounce up off the support area. Next target on the downside is a break below the $60 mark. Resistance at $61.50 with support at $60.15.
BITCOIN
Following an early test of the pivotal $90K resistance, sellers stepped in and added to the strong downtrend. The chart confirms the 3rd consecutive lower high and lower low on the chart. Today reflects the 3rd attempt since mid October at testing the $85K support area. Next target on the downside will be the $80K level. Buyers will look to retest the $90K mark in an attempt to reverse the trend. Resistance at $90K with support at $85.2K.
