Technical Analysis for US Dollar, S&P 500, Gold and Crude Oil - Gold Finds Support, Crude Oil Rally May Fail Near $59

Technical Analysis for US Dollar, S&P 500, Gold and Crude Oil - Gold Finds Support, Crude Oil Rally May Fail Near $59

15 February 2015, 06:11
Sergey Golubev
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US DOLLAR TECHNICAL ANALYSIS
Prices may have finally started to turn lower as expected following the appearance of a bearish Evening Star candlestick pattern. Near-term support is at 11740, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 23.6% level at 11653

S&P 500 TECHNICAL ANALYSIS
Prices edged above resistance at 2080.70, the 38.2% Fibonacci expansion, to expose the December 29 high at 2092.60. A break above that on a daily closing basis exposes the 50% level at 2112.90.

GOLD TECHNICAL ANALYSIS
Prices are testing support at 1218.80, the 50% Fibonacci retracement, with a break below that on a daily closing basis exposing the intersection of rising trend line support and the 61.8% level at 1197.86. Alternatively, a reversal above the 38.2% Fib at 1239.73 aims for the October 21 high at 1255.20.

CRUDE OIL TECHNICAL ANALYSIS
Prices continue to push higher as expected, with a narrow breach of the 38.2% Fibonacci retracement at 59.08 exposing the 50% level at 63.38. A further push beyond that targets the 61.8% Fib at 67.68. Negative RSI divergence wars of fading upside momentum however, hinting a turn downward may be ahead. A reversal back below 59.08 aims for the 23.6% retracement at 53.77.

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