CRUDE OIL TECHNICAL ANALYSIS (based on dailyfx article)
Prices are moving higher anew after pulling back as expected.A daily close above resistanceat 107.32, the 100% Fibonacci expansion, targets the 123.6% level at 108.68. Alternatively, a turn below support at 105.96, the 76.4% Fib, initially aims for the 61.8% level at 105.12.
GOLD TECHNICAL ANALYSIS (based on dailyfx article)
Prices launched sharply higher to test resistance at 1321.64, the 38.2% Fibonacci expansion. A break above this barrier targets the 50% level at 1346.78. Alternatively, a turn back below the 1300/oz figure aims for the 1277.00-90 area, marked by April 1 low and the 23.6% Fib.
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S&P 500 Still Pushing Higher But Reversal Clues Emerging (based on dailyfx article)
Prices are inching to yet another record high above resistance at 1961.50 marked by the 38.2% Fibonacci expansion. Confirmation of a break on a daily closing basis clears the way for a challenge of 1972.60, the intersection of a rising channel top from mid-April and the 50% level. Emerging negative RSI divergence warns of oncoming reversal however. A turn below the 23.6% Fib at 1947.80 targets the 14.6% expansion at 1939.30.
The Bullish Engulfing pattern on the EUR/USD daily chart is yet to find much follow-through as the common currency gives back gains above the 1.3600 handle. The pullback during yesterday’s session has prompted a Shooting Star candlestick, which suggests the bears may be looking to stage a return. However with support nearby, the extent of a correction may be limited. A daily close back below 1.3600 would signal enough conviction amongst traders to open the psychologically-significant 1.3500 level.
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D1 price is ranging between 1.3512 support and 1.3643 resistance levels.H4 price is located outside Ichimoku cloud/kumo on primary bullish moving along Sinkou Span B line which is one of the border of Ichimoku cloud.W1 price
is secondary correction...