Technical Analysis

Talking Points:

• US Dollar Hits Monthly High as Rally Extends for 5th Day
• S&P 500 Waiting for Cues After Backing Off Record High
• Crude Oil Drop Pauses at 4-Month Support, Gold Stalling

US DOLLAR TECHNICAL ANALYSIS – Prices continued to press upward, hitting the highest level in over a month. Near-term resistance is at 12037, the 76.4% Fibonacci retracement, with a break above that on a daily closing basis exposing the March 13 high at 12149. Alternatively, a reversal below the 61.8% Fib at 11960 opens the door for a challenge of the 50% retracement at 11898.



S&P 500 TECHNICAL ANALYSIS – Prices are in consolidation mode having set a record high last week. A break below the 2100.00-03.60 area (trend line, 38.2% Fibonacci retracement) exposes the 50% level at 2099.60. Alternatively, a reversal above downward-sloping resistance at 2127.30 targets the 38.2% Fib expansion at 2136.00.



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 1204.36.



CRUDE OIL TECHNICAL ANALYSIS – Prices paused to digest losses after testing support guiding the up move from lows set in mid-January. A break below a rising trend line at 61.29 exposes the 38.2% Fibonacci retracement at 60.27. Alternatively, a move the 23.6% level at 63.84 targets downward-sloping resistance at 66.16.



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

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Talking Points:

• US Dollar Advance Extends as Prices Hit Highest in Six Weeks
• S&P 500 Continues to Mark Time at 2-Month Trend Support
• Crude Oil Stalls at Monthly Resistance, Gold Treading Water

US DOLLAR TECHNICAL ANALYSIS – Prices resumed its advance, touching the highest level in six weeks. Near-term resistance is at 12037, the 76.4% Fibonacci retracement, with a break above that on a daily closing basis exposing the March 13 high at 12149. Alternatively, a reversal below the 61.8% Fib at 11960 opens the door for a challenge of the 50% retracement at 11898.

S&P 500 TECHNICAL ANALYSIS – Prices are in consolidation mode having set a record high last week. A break below the 2100.00-6.50 area (trend line, 38.2% Fibonacci retracement) exposes the 50% level at 2099.60. Alternatively, a reversal above downward-sloping resistance at 2124.70 targets the 38.2% Fib expansion at 2136.00.

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 1203.60.

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 65.92 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 61.66 targets the 38.2% Fib retracement at 60.27.

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

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Talking Points:

• US Dollar Issues Largest Daily Decline in Three Months
• S&P 500 Waiting for Direction Cues at 2-Month Support
• Gold, Crude Oil Prices Mark Time in Familiar Territory

US DOLLAR TECHNICAL ANALYSIS – Prices turned sharply lower, producing the largest decline in close to three months. A daily close below the 23.6% Fibonacci retracement at 11918 exposes the 38.2% level at 11841. Alternatively, a move above the 14.6% Fib at 11966 clears the way for a test of the June 1 high at 12043.

S&P 500 TECHNICAL ANALYSIS – Prices remain in consolidation mode. A break below trend line support at 2107.80 exposes the 38.2% Fibonacci retracement at 2100.00. Alternatively, a reversal above downward-sloping resistance at 2120.80 targets the 38.2% Fib expansion at 2133.20.

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 1203.33.

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 65.77 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 61.81 targets the 38.2% Fib retracement at 60.27.

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

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Talking Points:

• US Dollar Downward Reversal Extends for 2nd Day
• S&P 500 Waiting for Direction at 2-Month Support
• Crude Oil, Gold Remain Locked in Familiar Ranges

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. Alternatively, a move above the 23.6% Fib at 11918 opens the door for a challenge of the 14.6% expansion at 11966.

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. Alternatively, a reversal above downward-sloping resistance at 2119.50 targets the 38.2% Fib expansion at 2133.20.

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.

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

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Talking Points:

• US Dollar Finds Interim Support, Corrects Upward
• S&P 500 Breaks 2-Month Support to Challenge 2100
• Gold, Crude Oil Break Down from Familiar Ranges

US DOLLAR TECHNICAL ANALYSIS – Prices found interim support and mounted a cautious recovery after declining to a two-week low. A daily close below the 38.2% Fibonacci retracement at 11887 exposes the 50% level at 11839. Alternatively, a rebound above the 14.6% Fib expansion at 11922 clears the way for a test of the 23.6% threshold at 11959.

S&P 500 TECHNICAL ANALYSIS – Prices broke below two-month trend support to challenge the 38.2% Fibonacci retracement squarely at the 2100.00 figure. A break below this barrier exposes the 50% level at 2088.60. Trend line support-turned-resistance is now at 2111.10.

GOLD TECHNICAL ANALYSIS – Prices broke downward out of consolidation, aiming to challenge support at 1171.98 marked by the 61.8% Fibonacci expansion. A break below that exposes the 76.4% level at 1164.36. Alternatively, a reversal back above the 50% Fib at 1178.14 targets the 38.2% expansion at 1184.30.

CRUDE OIL TECHNICAL ANALYSIS – Prices narrowly edged past support guiding the uptrend since mid-January. Sellers now aim to challenge the 38.2% Fibonacci retracement at 60.27, with a break below that exposing the 50% level at 57.39. Alternatively, a move back above the trend line – now recast as resistance at 62.32 – targets a downward-sloping barrier at 65.57.

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

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Talking Points:

• US Dollar Targeting June Swing High as Recovery Accelerates
• S&P 500 Continues to Decline After Snapping 2-Month Uptrend
• Crude Oil Stalls at Trend Support, Gold Drops to 3-Month Low

US DOLLAR TECHNICAL ANALYSIS – Prices areaccelerating upward anew, with prices on pace to challenge monthly highs. Near-term resistance is at 12018, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 12067. Alternatively, a turn below the 236% Fib at 11959 opens the door for a challenge of the 14.6% expansion at 11922.

S&P 500 TECHNICAL ANALYSIS – Prices continued downward after breaking two-month trend support. Sellers are now challenging the 50% Fibonacci retracement at 2088.60, with a break below that exposing the 61.8% level at 2077.20. Alternatively, a move back above the 38.2% Fib at 2100.00 targets trend line support-turned-resistance at 2115.50.

GOLD TECHNICAL ANALYSIS – Prices continue to push lower, now aiming to challenge support at 1164.36 marked by the 76.4% Fibonacci expansion. A break below that exposes the 100% level at 1152.05. Alternatively, a reversal back above the 61.8% Fib at 1171.98 targets the 50% expansion at 1178.14.

CRUDE OIL TECHNICAL ANALYSIS – Prices continue to test support at a rising trend line guiding the move higher since mid-January. A break below this barrier (now at 62.35) exposes the 38.2% Fibonacci retracement 60.27. Alternatively, a reversal above downward-sloping resistance at 65.42 targets the May 6 high at 69.60.

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

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Talking Points:

• US Dollar Digesting in Choppy Range After Hitting 7-Week High
• S&P 500 Extends Decline for 3rd Straight Day, Hits Monthly Low
• Gold Hits 3-Month Low, Crude Oil Marks Time at Trend Support

US DOLLAR TECHNICAL ANALYSIS – Prices areconsolidating in a choppy range after opening June at a seven-week high. A daily close below the 38.2% Fibonacci retracement at 11887 exposes the 50% level at 11839. Alternatively, a rebound above the 12024-43 area (June 1 and June 5 highs) clears the way for a test of double top resistance at 12149.

S&P 500 TECHNICAL ANALYSIS – Prices continue to push lower after breaking two-month trend support. 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 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.

CRUDE OIL TECHNICAL ANALYSIS – Prices continue to test support at a rising trend line guiding the move higher since mid-January. A break below this barrier (now at 62.49) exposes the 38.2% Fibonacci retracement 60.27. Alternatively, a reversal above downward-sloping resistance at 65.23 targets the May 6 high at 69.60.

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


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Talking Points:

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

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.

S&P 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 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.

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.

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

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Talking Points:

• US Dollar Still Breaks Range, Sinks to Lowest in Three Weeks
• S&P 500 Launches Sharp Recovery from Trend Line Support
• Crude Oil Rebound from Mid-January Low May Be Resuming

US DOLLAR TECHNICAL ANALYSIS – Prices declined to a three-week low after breaking range support. A daily close below the 61.8% Fibonacci retracement at 11790 exposes the 76.4% level at 11731. Alternatively, a rebound back above the 50% Fib at 11839clears the way for a test of the 38.2% retracement at 11887.

S&P 500 TECHNICAL ANALYSIS – Prices launched a swift recovery after testing rising trend line support set from late-March lows. From here, a break above trend line resistance at 2110.80 exposes the 50% Fibonacci expansion at 2119.10. Alternatively, a move below the 23.6% Fib at 2093.50 targets the 2077.20-79.30 area (trend line, 61.8% Fib retracement).

GOLD TECHNICAL ANALYSIS – Prices narrowly edged above falling channel resistance, warning that the down move from mid-May highs may be unraveling. A break of trend line resistance at 1201.51 exposes the May 18 high at 1232.30. Alternatively, turn below channel resistance-turned-support at 1181.01 targets the 38.2% Fibonacci expansion at 1169.31.

CRUDE OIL TECHNICAL ANALYSIS – Prices may be resuming the recovery launched from mid-January lows after completing a Flag continuation pattern. Near-term resistance is at 66.69, the 23.6% Fibonacci expansion, with a break above that exposing the 38.2% level at 70.25. Alternatively, a move below trend line support at 62.62 targets the 38.2% Fib retracement at 60.27.

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

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Talking Points:

• US Dollar Pauses to Digest After Declining to 3-Week Low
• S&P 500 Recovery Fails to Puncture Trend Line Resistance
• Gold Rebound Hinted Ahead, Crude Oil Aiming Above $66

US DOLLAR TECHNICAL ANALYSIS – Prices paused to digest losses after sliding to the weakest level in three weeks. Near-term support is at 11834-9 area (May 20 close, 50% Fibonacci retracement), with a break below that on a daily closing basis exposing the 61.8% level at 11790. Alternatively, a move above the 38.2% Fib at 11887 opens the door for a challenge of the 23.6% retracement at 11946

S&P 500 TECHNICAL ANALYSIS – Prices are stalling after launched a recovery at rising trend line support set from late-March lows. A break above trend line resistance at 2109.50 exposes the 50% Fibonacci expansion at 2119.10. Alternatively, a move below the 23.6% Fib at 2093.50 targets the 2077.20-80.00 area (trend line, 61.8% Fib retracement).

GOLD TECHNICAL ANALYSIS – Prices narrowly edged above falling channel resistance, warning that the down move from mid-May highs may be unraveling. A break of trend line resistance at 1201.02 exposes the May 18 high at 1232.30. Alternatively, turn below channel resistance-turned-support at 1178.44 targets the 38.2% Fibonacci expansion at 1169.31.

CRUDE OIL TECHNICAL ANALYSIS – Prices may be resuming the recovery launched from mid-January lows after completing a Flag continuation pattern. Near-term resistance is at 66.69, the 23.6% Fibonacci expansion, with a break above that exposing the 38.2% level at 70.25. Alternatively, a move below Flag top resistance-turned-support at 64.34 targets a rising trend line at 62.79.


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

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