Technical Analysis for US Dollar, S&P 500, Gold and Crude Oil - Waiting for Direction at 2-Month Support for oil, gold remain locked in range

Technical Analysis for US Dollar, S&P 500, Gold and Crude Oil - Waiting for Direction at 2-Month Support for oil, gold remain locked in range

5 June 2015, 10:11
Sergey Golubev
2
207
US DOLLAR TECHNICAL ANALYSIS
Prices continued to edge downward, producing the lowest daily close in a week. Near-term horizontal pivot support is at 11884, with a break below that on a daily closing basis exposing the 38.2% level at 11841.

S&P 500 TECHNICAL ANALYSIS
Prices remain in consolidation mode. A break below trend line support at 2109.80 exposes the 38.2% Fibonacci retracement at 2100.00.

GOLD TECHNICAL ANALYSIS
Prices are digesting losses after claiming a foothold below the $1200/oz figure anew. A close below range support at 1178.09 exposes the 38.2% Fibonacci expansion at 1169.31. Alternatively, a rebound above the 23.6% level at 1193.38 targets trend line support-turned-resistance at 1203.04.

CRUDE OIL TECHNICAL ANALYSIS
Prices rebounded from support guiding the up move from lows set in mid-January. A push above downward-sloping resistance at 65.68 exposes the May 6 high at 69.60, followed by the 38.2% Fibonacci expansion at 70.57. Alternatively, a move below trend line support at 61.97 targets the 38.2% Fib retracement at 60.27.

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