USD INDEX
Buyers and sellers traded punches with neither side holding onto intraday moves. The doji-like candlestick confirms the indecision, with a close alongside that of yesterday. Note the higher high and higher low adding to the uptrend. Resistance level = previous support - adds to relevancy. Resistance at 98.45 with support at 98.18.
S&P 500
Buyers took control from the outset with demand for US equities propelling the index to yet another new record high. Geopolitical uncertainty and a struggling USD appear to favour a risk-on theme with investors not yet ready to back down, or rather, miss out on the strong bull run. Resistance at 7296 with support at 7222.
GOLD
Buyers continue to guard the $4500 support area with a gentle bounce up off the floor. Demand for the metal remains limited as the higher close does enough to signal a green candlestick, however the chart reflects a lower high adding to the downtrend. Resistance at $4586 with support at $4513.
BRENT OIL
While tensions remain high and the fragile situation in the middle east looks no closer to reaching a settlement, the forward-looking oil market retraced today - no news is good news. The trend remains up as sellers settled at the $110 level - the new dividing line for now. The contradictions and lack of clarity are enough to keep prices at current elevated levels. Resistance at $114.67 with support at $110.14.
BITCOIN
Buyers added to yesterday’s gains and noticeably continues to move up above the $80K, and now $81K marks. For now, the $80K level is looking pivotal. Trend, bias and sentiment favour the upside as sellers have stayed away for the past 7 days. Resistance at $81.6K with support at $79.7K.
