CRUDE OIL TECHNICAL ANALYSIS (based on dailyfx article)
Prices broke support at a rising trend line support set from the May 1 low to challenge the 38.2% Fibonacci expansion at 102.11. A break below this barrier on a daily closing basis exposes the 50% level at 101.38. Alternatively, a reversal back above the trend line (now recast as resistance at 103.54) targets a downward-sloping barrier connecting major swing highs since early March, currency at 104.26.
GOLD TECHNICAL ANALYSIS (based on dailyfx article)
Prices turned lower as expected, confirming a descending Triangle chart formation. A break below the 76.4% Fibonacci expansionat 1243.24 exposes the 100% level at 1216.11. Resistance is at 1260.03, the 61.8% Fib, with a reversal back above that clearing the way for an advance into the 1273.59-77.00 area marked by the 50% retracement and the Triangle bottom.
S&P 500 TECHNICAL ANALYSIS (based on dailyfx article)
Prices broke resistance at 1933.00, the 76.4%Fibonacci expansion, exposing the 100% level at 1954.90. A further push beyond that targets the 123.6% Fib at 1976.80.Alternatively, a reversal back below 1933.00 clears the way for a descent to 1919.40, marked by the 61.8% expansion.
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