Price Pattern Analysis for US Dollar, S&P 500, Gold and Grude Oil - Gold Stalls After Breakdown, Crude Oil in Digestion Mode

Price Pattern Analysis for US Dollar, S&P 500, Gold and Grude Oil - Gold Stalls After Breakdown, Crude Oil in Digestion Mode

25 December 2014, 15:11
Sergey Golubev
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US DOLLAR TECHNICAL ANALYSIS
Prices pushed higher for a third consecutive day but negative RSI divergence casts doubt on follow-through. A daily close above the 38.2% Fibonacci expansionat 11577 exposes the 50% level at 11648.

S&P 500 TECHNICAL ANALYSIS
Prices edged above the December 5 high at 2079.60, exposing the 50% Fibonacci expansion at 2098.60. A daily close above this barrier exposes the 61.8% level at 2129.40. Negative RSI divergence warns of ebbing upside momentum and hints a turn lower may be looming.

GOLD TECHNICAL ANALYSIS
Prices resumed downward momentum, with sellers now aiming to challenge the 38.2% Fibonacci expansion at 1156.00. A break below this boundary on a daily closing basis exposes the 50% level at 1130.64.

CRUDE OIL TECHNICAL ANALYSIS
Prices are in consolidation mode above the $58.00/barrel figure. A break below the 23.6% Fibonacci expansion at 58.20 exposes the 38.2% level at 54.83.

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