USD INDEX
Practically, no real change as the index continues to trade, and close, within a narrow sideways range between 97.50 and 98.00. Technically the uptrend remains intact (EMAs up), yet sellers won out today, reflected in a red daily candlestick. Add to the picture a lower high and lower low, and perhaps the bias is tilted slightly down for now. Note the resistance continues to hold strong, with 2 consecutive double tops on the daily chart (bearish signal). Resistance at 97.93 with support at 97.55.
S&P 500
Steady demand throughout the session as buyers added to yesterday’s gains, confirming the uptrend. On the upside buyers will aim to break current resistance and test the descending trendline, in an attempt to retake the 7000 mark. Sellers will look to bounce down of these levels, aiming below 6900. Resistance at 6965 with support at 6895.
GOLD
Buyers could not hold onto early gains as sellers stepped in with a sharp sell-off late in the US session. The trend remains up, with buyers continuing to maintain control. While sellers look down at $5100, buyers look up to the $5200 level. Although the charts reflect a different version of the one-way uptrend we saw through 2025, demand for the safe haven commodity remains clear. Resistance at $5223 with support at $5136.
BRENT OIL
Similarly to yesterday’s price action, sellers won out on the day with a 4th consecutive close within a narrow $.40 range between $70.82 and $71.22. Note today’s support matches the recently added higher low on the chart. Following the sharp rally from last week’s threatening rhetoric between US and Iran, price activity has levelled off for now. Resistance at $71.76 with support at $70.27.
BITCOIN
Finally, the cryptocurrency made a substantial bounce up off support and took out the past 10 day’s highs on the way to retesting the $70K mark. The $6K move broke above the descending trendline which has been in place since the start of the month. While today’s rally initiated a new uptrend, price action remains contained within the bigger picture sideways range between $63K and $70K. Resistance at $69.6K with support at $63.6K.
