USD INDEX
Sellers maintained control and established a lower low for the 4th consecutive day, adding to the downtrend. Another risk on day saw little demand for USD (safety and liquidity) with gold and equity markets the preferred assets of choice. Resistance at 98.20 with support at 97.75.
S&P 500
The demand for US equities has completed a strong reversal from the March low at 6356. Buyers added to yesterday’s rally as prices reached the 7000 mark - the record high resistance area which we saw early in the year, pre-war levels. Classic inverse relationship between weak USD and strong equities. Resistance at 7003 with support at 6921.
GOLD
Buyers added to yesterday’s gains, extending the uptrend with a higher high and higher low on the chart. The current rally ties in with the USD sell-off as the commodity confirms it’s safe haven status. Next upside target sits at $4900 with the $5000 mark clearly in view. Resistance at $4842 with support at $4743.
BRENT OIL
As the mood between Iran and USA takes on a more conciliatory tone, the oil market translates the positive news into lower prices with sellers in control, looking down at the $90 mark. The ceasefire remains technically in place but extremely fragile, and the straits are not open. The oil price remains volatile yet trading within the context of a best-case scenario rather a worst-case. It appears that the $100 mark may be the dividing line which separates the opposite potential outcomes. Resistance at $99.39 with support at $94.64.
BITCOIN
A bullish start and a significant push higher saw prices reach, and match the $76K high from March 17 2026. However, sellers stepped in and reversed the early gains with the late US session price sitting alongside today’s open price. Trend remains up, bias remains tilted to the upside as long as prices remain above the $74K support, for now. Note the succession of higher lows since the current uptrend which started beginning of the month (April). Resistance at $76K with support at $74.
