US DOLLAR TECHNICAL ANALYSIS
Prices look poised to extend its
advance after prices cleared yet another technical barrier. A daily
close above the 50% Fibonacci expansion at 11308 exposes the 61.8% level
at 11400. Alternatively, a turn below the 38.2% Fib at 11216 opens the
door for a challenge of the 11102-43 area marked by the October 3 high
and the 23.6% expansion.
S&P 500 TECHNICAL ANALYSIS
Prices overcome September’s top
at 2022.10, setting a new record high. Near-term resistance is now at
2032.30, the 14.6% Fibonacci expansion, with a break above that on a
daily closing basis exposing the 23.6% level at 2051.00. Alternatively, a
reversal back below 2022.10 sees support at 2002.10, the November 4
low.
GOLD TECHNICAL ANALYSIS
Prices turned lower as expected after
putting in a bearish Evening Star candlestick pattern. A daily close
below the 76.4% Fibonacci expansion at 1131.11 exposes the 100% level at
1092.78. Alternatively, a reversal back above the 61.8% Fib at 1154.82
aims for the 1173.99-78.86 area (December 2013 low, 50% expansion).
CRUDE OIL TECHNICAL ANALYSIS
Prices paused to digest losses
after touching a four-year low. A daily close below the 38.2% Fibonacci
expansion at 82.22 targets the 50% level at 80.46. Alternatively, a
reversal above the 23.6% Fib at 84.39 aims for the intersection of the
14.6% expansion and channel floor support-turned-resistance at 85.73.
