USD INDEX
The USD picked up from where it left off last week, confirming demand for the global reserve currency with buyers adding gains for the 5th consecutive day. Notably price activity maintained above the 100.00 mark with a strong close above the round number. All fundamentals contributed: safe haven status, liquidity, as well as global stock markets in the red suggesting a global economic slowdown. Resistance at 100.44 with support at 99.87.
S&P 500
Technically the day’s activity is reflected in a minimal green candlestick body, while practically the day saw sellers in control, adding to the strong downtrend. Overall risk-off sentiment saw the DJ and NASDAQ showing losses for the day. Note the relevant support matches the low which was tested (unsuccessfully) in August 2025. It appears buyers are not seeing value in the low prices, and instead sensing panic as the oil shock, inflation and global economic uncertainty surround the financial markets. Resistance at 6478 with support at 6360.
GOLD
Notwithstanding the green candlestick and higher high on the chart, buyers were not able to hang on to early gains, going on to close slightly above the $4500 level. The positive for the metal was the resilience in guarding current support area in the face of USD continuing to move higher. Gold’s safe haven status may well create demand at some point, although it appears the appeal of the USD (liquidity being the key aspect) is the asset of choice. While the sideways price activity continues, $4500 does look like a comfort level for now. Buyers look up to $4600 while sellers aim for $4400 on the downside. Resistance at $4587 with support at $4425.
BRENT OIL
The quietest day for the commodity since the war started as buyers and sellers take a break. No new developments translates to a minimal gain within a narrow $3 range, while adding to the uptrend. As prices move further away (higher) from the significant $100 mark, spikes to the upside will be closer to targeting the $120 level. Resistance at $109.33 with support at $106.18.
BITCOIN
The downtrend continues and the pattern has a familiar look as buyers attempt a brief rally early, demand dries up quickly, and prices turn lower as sellers step in. The $66K support again holds strong, yet the downward pressure continues to build and the floor does look vulnerable. Noteworthy that the crypto currency trades at almost the same price now as it was at the start of the war 1 month ago. Clearly BTC is not seen as a liquid asset or alternative safe-haven in times of geopolitical uncertainty. Bias, trend and sentiment continue to have a bearish feel. Resistance at $68.1K with support at $65.7K.
