Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

| 10 juni, 2015 | 0 kommentarer

Talking Points:

  • US Dollar Still Waiting for Direction Guidance in a Choppy Range
  • SP 500 Pause to Digest Losses After Three Days on the Downside
  • Crude Oil Rebounds, Gold Prices Oscillating in Familiar Territory

Can’t access the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices continue to mark time in a choppy range after opening June at a seven-week high. Near-term support is at 11887, the 38.2% Fibonacci retracement, with a break below that on a daily closing basis exposing the 50% level at 11839. Alternatively, a move above the 12024-43 area (June 1 and June 5 highs) opens the door for a challenge of double top resistance at 12149.

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Daily Chart – Created Using FXCM Marketscope

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

SP 500 TECHNICAL ANALYSIS – Prices paused to digest losses after three consecutive days of downward momentum. Sellers are now challenging the 61.8% Fibonacci retracement at 2077.20, with a break below that exposing the 76.4% level at 2063.00. Alternatively, a move back above the 50% Fib at 2088.60 targets the 38.2% retracement at 2100.00.

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Daily Chart – Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices are digesting losses after dropping to a three-month low. A break below the 38.2% Fibonacci expansion at 1169.31 exposes the 50% level at 1149.85. Alternatively, a move above support-turned-resistance at 1178.09, the March 31 low, targets the 23.6% Fib at 1193.38.

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Daily Chart – Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices continue to oscillate above support at a rising trend line guiding the move higher since mid-January. A break below this barrier (now at 62.64) exposes the 38.2% Fibonacci retracement 60.27. Alternatively, a reversal above downward-sloping resistance at 65.13 targets the May 6 high at 69.60, followed by the 38.2% Fib expansion at 70.25.

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Daily Chart – Created Using FXCM Marketscope

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

E-postadressen publiceras inte. Obligatoriska fält är märkta *