Technical Analysis for US Dollar, S&P 500, Gold and Crude Oil - Gold Prices Continue Pullback, Crude Oil Flat-Lining

Technical Analysis for US Dollar, S&P 500, Gold and Crude Oil - Gold Prices Continue Pullback, Crude Oil Flat-Lining

28 January 2015, 06:11
BlondieNews
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US DOLLAR TECHNICAL ANALYSIS
Prices put in a Shooting Star candlestick pattern below multi-year resistance, hinting a pullback may be ahead. A daily close below the 23.6% Fibonacci expansion at 11772 exposes the resistance-turned-support at 11715, the January 8 high.

S&P 500 TECHNICAL ANALYSIS
Prices declined as expected after putting in a bearish Evening Star candlestick pattern. A daily close below the 61.8% Fibonacci expansion at 2047.50 exposes the 50% level at 2033.80. Alternatively, a turn back above the 76.4% Fib at 2064.30 aims for the December 29 high at 2092.60.

GOLD TECHNICAL ANALYSIS
Prices fell for a second consecutive day, with sellers now testing support at 1274.30 marked by the 23.6% Fibonacci retracement. A break below this barrier on a daily closing basis exposes the 1253.77-55.20 area marked by the October 21 high and the 38.2% level.

CRUDE OIL TECHNICAL ANALYSIS
Prices are stalling having attempted to recover as expected. A daily close above the 14.6% Fibonacci retracement at 50.49 exposes the 23.6% level at 53.77. Alternatively, a reversal below the 14.6% Fib expansion at 47.07 targets the 23.6% threshold at 43.79.


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