USD INDEX
The Fed kept rates unchanged (3.75%). Geopolitical instability with US/Iran not making progress; rising oil price add to inflation concerns; stock markets shaky = risk-off. All this adds up to the index putting in another strong push higher, adding to the uptrend. Resistance at 98.92 with support at 98.40.
S&P 500
A pause today as the index was hit on several fronts: hawkish Fed; oil spike = inflation fears are back; upcoming huge earnings reports often lead to a pause; rising bond yields. The risk-off theme today saw all major US stock markets close lower. Note yesterday’s bearish engulfing candlestick (bearish signal) playing out. Resistance at 7189 with support at 7137.
GOLD
Sellers added to the downtrend with a 5th consecutive lower high and lower low on the charts. While gold’s safe haven status remains theoretically accurate, the inverse relationship between strong USD and weak gold continues to add to the metal’s sell-off. Clearly gold doesn’t react to fear alone. The Fed’s hawkish tone today (rates kept on hold at 3.75%) added to the push lower. While sellers aim below $4500, buyers look up to retake the $4600 mark. Resistance at $4616 with support at $4507.
BRENT OIL
Today’s spike was a classic supply shock + macro reaction. The oil market always looks forward and with both production concerns as well as shipping/supply (safe travel) uncertainty, the market price reflects a wort case scenario. This on top of the geopolitical situation (middle east war) showing no signs of an imminent settlement. Today’s high matches the highest close since the start of the war on Feb 27th 2026. The $100 dividing line has been left behind as buyers look up to the next resistance - $120? Resistance at $111.52 with support at $103.06.
BITCOIN
Sellers won out with a 3rd consecutive lower low on the chart. Technically the double-top and bearish engulfing candlestick reversal patterns playing out. Sellers will look below the $75K mark to extend the downtrend, while buyers may see today’s low as a higher low while looking up to $78K and re-ignite the uptrend. Resistance at $77.9K with support at $$74.8K.
