Market Highlights
1 - Oil steady as US/Iran ceasefire talks face Israel uncertainty and Iran demands. Brent down $1.50
2 - Stock market rollercoaster. US indices close lower. S&P -0.37%, NASDAQ -0.84%
3 - European markets end the day lower. DAX -0.60%, FTSE -0.43%, IBEX -1.38%
4 - Gold finally has an up day, +$34; Bitcoin can’t hold on above $70K, down $900
5 - USD up slightly across the board. USDX +0.12%, CAD +0.26%, JPY +0.12%
Daily Price Activity
Insights
USD INDEX Although buyers could not hang on to the intraday high, they did recoup over half of yesterday’s losses, securing a green candlestick on the chart. However, a lower high added to the existing downtrend. On the upside, buyers protected the 99.00 support area. Resistance at 99.44 with support at 98.89.
S&P 500 Sellers won out on the day with the downtrend remaining intact. Note the support area continues to be guarded by buyers, as has been the case since October 2025. Buyers look above 6700 in order to reverse the trend, while sellers continue to struggle below 6600. Resistance at 6655 with support at 6572.
GOLD Buyers did just enough to secure a higher close and in so doing ended a run of 9 consecutive red daily candlesticks. While buyers did protect the $4300 support, a lack of demand for the safe haven commodity is reflected in a lower high and the well established downtrend remaining in place. Resistance at $4451 with support at $4303.
BRENT OIL Sellers took a breather following yesterday’s steep sell-off, allowing buyers to recoup a small portion of yesterday’s losses. Notwithstanding today’s push higher, the downtrend remains intact, and noticeably, buyers were not able to maintain above the $100 mark. While it appears the US is looking for an off-ramp and ways to ease the conflict, prices favour the downside. However, Iran continues to control the blockade on shipping routes as the straits of Hormuz remain closed, thereby keeping prices vulnerable to upside spikes. Resistance at $100.59 with support at $94.14.
BITCOIN Lack of demand following yesterday’s mini rally saw sellers take control and do enough to win out today with a red candlestick confirming the bounce down. A narrow $3K trading range did little to change the familiar pattern as sellers protect above $70K while buyers guard $68K. Resistance at $71.4K with support at $68.7K.
FX Pivot Levels
