USD INDEX
Yesterday’s brief retracement was cancelled out today as buyers resumed the steady demand for USD with a convincing higher high and higher low adding to the 14-day uptrend which started December 26 2025. Aside from the positive technicals, the current push is impressive considering the recent data releases over the period - NFP, unemployment claims, CPI and PPI all contributing. Buyers eying the 100.00 mark? Resistance at 99.27 with support at 98.88.
S&P 500
Notwithstanding the late sell-off into the close, buyers won out on the day. While the charts signal a higher high and higher low on the charts, the downtrend remains in place, noting that price action has been contained within the 6950 to 7000 range for the past 8 trading days. Resistance at 7020 with support at 6954.
GOLD
A slight gap lower at the open, followed by neither buyers or sellers holding onto intraday moves as the charts show prices closing back at the open with a doji-like candlestick confirming the lack of direction. While technicals remain positive and clearly the metal retains its safe-haven status, perhaps a rest week is not unexpected following the commodity’s sharp rally to start the year. Resistance at $4628 with support at $4577.
BRENT OIL
Sellers maintained control, in keeping with the softer, less aggressive tone relating to the Iran situation as well as Trump meeting with the Venezuelan opposition leader today. As prices come down, the market remains nervous with no clear-cut policy statements from the White House on either front. Resistance at $65.15 with support at $63.23.
BITCOIN
Buyers were unable to hold on to the new 2 month high as sellers stepped and reversed yesterday’s gains. Notably yesterday’s low remains intact and the retracement appears to be a result of profit-taking rather than the start of an emphatic reversal. The uptrend remains in place, as the next move may well be more telling - whether buyers step in and retest the current resistance looking up at the 100.00 mark, or sellers add to today’s move lower and the retracement picks up steam. Resistance at $97.1K with support at $95.1K.
