US Dollar Index
Prices look to be attempting to set a double bottom at 10375, the October 22 close. Confirmation of the upward reversal pattern requires a breach of resistance is at 10462, marked by the top of a falling channel that has guided the benchmark currency downward since the beginning of the year. A daily close above this barrier initially targets horizontal support-turned-resistance at 10495.
S&P 500
Prices rebounded as expected after putting in a Piercing Line candlestick pattern. The index pulled back from resistance at 1899.10, the April 4 high, to test rising trend line support at 1883.80. A break below this boundary exposes the 23.6% Fibonacci expansion at 1880.20.
Gold
Prices are consolidating below resistance in the 1309.31-15.60 area, marked by the top of a descending Triangle chart formation and the 38.2% Fibonacci retracement. A break above that on daily closing basis targets the 50% level at 1330.18. The descending Triangle argues in favor of bearish continuation, however (though confirmation is absent for now). Near-term support is at 1277.00, the Triangle bottom, followed by the April 24 low at 1268.40.
Crude Oil
Prices paused after shooting higher through resistance at 101.85 marked by the 50% Fibonacci retracement. Buyers are now testing the 61.8% level at 102.58, with a push above that eyeing the underside of a previously broken rising trend line at 103.01. Alternatively, a reversal back below 101.85 eyes the 38.2% Fib at 101.11.
