Technical Pattern Analysis for US Dollar, S&P 500, Gold and Crude Oil

Technical Pattern Analysis for US Dollar, S&P 500, Gold and Crude Oil

26 February 2015, 06:11
Sergey Golubev
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490

US DOLLAR TECHNICAL ANALYSIS
Prices are struggling to find follow-through after falling as expected having formed a bearish Evening Star candle 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 resumed their upward push after a brief period of consolidation, rising to set yet another record high. A daily close above the 38.2% Fibonacci expansion at 2131.30 exposes the 50% level at 2145.70. Alternatively, a reversal below the 23.6% Fib at 2113.60 targets the 14.6% expansion at 2102.60.

GOLD TECHNICAL ANALYSIS
Prices are attempting to launch a recovery from support at 1197.86, the 61.8% Fibonacci retracement. The reversal requires a push above a major resistance cluster in the 1209.67-18.80 area, marked by a falling channel top, the underside of a recently broken trend line and the 50% Fibonacci retracement. If a break does materialize, the next upside barrier comes in at 1239.73, the 38.2% level.

CRUDE OIL TECHNICAL ANALYSIS
Prices remain in digestion mode after an expected recovery found resistance below the $63/barrel figure. A break below the 58.17-78 area marked by the February 9 close and the 23.6% Fibonacci retracement exposes the 38.2% level at 56.18. Alternatively, a turn above the 14.6% Fib at 60.38 targets the February 17 high at 62.98.