USD INDEX
The USD was not able to hold on to recent gains with a gentle sell-off on the index. Sellers prevailed within a narrow trading range, noticeably unable to test the 97.00 support area. The uptrend remains intact. Resistance at 97.54 with support at 97.13.
S&P 500
After a slow start, sellers took control wiping out yesterday’s gains through the US session. A late rally into the close recouped a portion of the losses. As has been the case since mid January 2026, price activity continues to trade between 6900 and 7000, with close prices contained within the range. Again, we have seen buyers unable to maintain above the 7000 mark. Resistance at 7027 with support at 6885.
GOLD
A strong fight back from the metal, erasing yesterday’s losses and close to testing the $5000 level on the upside. Today’s push higher is reflected as a higher high and higher low on the chart. However, the downtrend remains in place. As noted, the fundamentals for the safe haven commodity have not changed, perhaps buyers seeing the lower prices as a new opportunity. As current levels have been traded through before, continued demand may take a different route with previous resistance /support levels adding new technical considerations going forward. Note the ATR which ranged between $50 - $70 over the past 6 months, currently stands at $200+ following the wild swings over the past week. Resistance at $4994 with support at $4683.
BRENT OIL
. A strong fight back today saw oil make a significant bounce up off support, and then go on to add a $2 gain from the open price. The sharp move higher was enough to reinstate the uptrend on the charts. Buyers will aim above $68 on the way to retesting the $70 level. Aside from the technicals, the US/Iran fundamentals add to the upward bias. Resistance at $68.20 with support at $65.12.
BITCOIN
Notwithstanding a late bounce late in the US session, sellers won out on the day adding to the downtrend, and in the process setting a new daily low at levels not seen since November 2024 ($72.6K). Trend, bias and sentiment all tilted to the downside. Attempted moves higher have been held up at the $79K resistance for the past 3 consecutive days. Resistance at $79.3K with support at $72.8K.
