USD INDEX
The Greenland threat scared the market; Trump’s latest tariff threats sent the USD into a tailspin. Sellers confirmed the panic as the global currency was sold-off sharply during the Asian and European session, with buyers stepping in and recouping a portion of the losses through the US session. Trend and sentiment point downwards after today’s move. Resistance at 98.90 with support at 98.01.
S&P 500
US equity markets stumbled to start the week, and today responded to the Greenland/tariff scenario with a sharp sell-off across the board. The index gained slightly in the futures market and early US session, before sellers went on to make a clear statement in response to the latest geopolitical conflict. Note that buyers were close to the 7000 level at last week’s close, and now 2 days later sellers are looking to test the 6800 mark on the downside. Resistance at 6911 with support at 6823.
GOLD
Unsurprisingly, gold rallied sharply in response to the Greenland situation - confirming the metal’s safe-haven status as well as the inverse relationship with a falling USD. A new all-time high was recorded with sellers remaining on the sidelines. Interesting that late last year when gold was trading at $4274 (December 31 2025) analysts were predicting a possible $5K level in 2026. Right now (January 20 2026) buyers are looking at $4800 as the next upside target. Resistance at $4766 with support at $$4658.
BRENT OIL
For the 3rd consecutive day there is no clear direction as oil continues to test $65 on the upside, $63.30 on the downside, and settling to close around the $64 level. While the Greenland issue controls the current media, with limited updates on the Iran situation/supply concerns, prices appear to be relatively stable, for now. Resistance at $65.13 and support at $63.37.
BITCOIN
Sellers added to the downtrend with a 5th consecutive lower low and a significant close below the $90K level. Lack of demand for the cryptocurrency is noticeable in the current context of geopolitical conflict (Greenland/tariffs) and the USD showing clear signs of instability - BTC unable to attract appeal as a safe-haven alternative. Note today’s move breaks the ascending trendline which has been in place since the November 2025 sell-off. Resistance at $92.7K with support at $89.2K.
