USD INDEX
The 3- week USD sell-off was halted this week as buyers recorded a slight gain within a relatively tight trading range. Notwithstanding, the green candlestick does reflect a lower high on the chart with the trend remaining down. The failed middle east negotiations add to demand for the safe and liquid USD. While buyers aim to test 99.00 on the upside, sellers look to break below the 98.00 mark. Resistance at 98.75 with support at 97.78.
S&P 500
Demand for US equities was clearly evident as the index added to the uptrend with a record high as buyers look up to 7200 as the next upside target. The US stock markets leads the way with USD and gold less appealing to investors, for now. Overbought technicals and profit taking have given way to FOMO as investors recognize the potential and don’t want to miss out on the rally. Resistance at 7197 with support at 7076.
GOLD
Although sellers won out for the week and the red weekly candlestick ended the run of 3 previous green candlesticks, the metal continues to show resilience at current levels. The safe haven commodity battles to recuperate from the sharp sell-off which coincides with the start of the middle east war (Feb 27th 2026). Note the fib retracement tool which reflects buyers attempting to break the 50% level at $4764. Resistance at $4832 with support at $4660.
BRENT OIL
The pivotal $100 mark tells the story: Optimism regarding the middle east war is reflected in prices maintaining below the pivotal level as we saw prices trading at $90 as US and Iran prepared for peace talks prior to the Islamabad meetings. The breakdown and failure to start meaningful discussions saw prices once again testing the $100 mark. The 3 sticking points: safe passage through the straits of Hormuz, Iran’s nuclear program and ongoing Israel/Lebanon conflict. Resistance at $101.34 with support at $89.19.
BITCOIN
Buyers add to the strong uptrend with a 4th consecutive higher high and higher low on the charts. Note the bullish ascending triangle formation. Buyers aim to test the $80K level which could create additional demand for the cryptocurrency. Resistance at $79.8K with support at $73.6K.
