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US DOLLAR TECHNICAL ANALYSIS – Prices continue to push upward as expected after putting in a Bullish Engulfing candle pattern, rising to set another six-month high. A daily close above the 50% Fibonacci expansion at 10652 exposes the 61.8% level at 10677. Alternatively, a move below the 38.2% Fib at 10627 opens the door for a challenge of the 23.6% expansion at 10595.
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S&P 500 TECHNICAL ANALYSIS – Prices are aiming to extend upward after clearing resistance in the 1985.30-91.40 area marked by the 50% Fibonacci expansion and the July 24 high, with the bulls targeting the intersection of a formerly broken channel floor and the 61.8% level at 2006.80. A further push beyond that aims for the outer boundary of the index’s long-term uptrend at 2023.50. Alternatively, a turn back below 1985.30 targets the 38.2% Fib at 1963.70.
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GOLD TECHNICAL ANALYSIS – Prices are testing support at 1272.98, the 76.4% Fibonacci expansion. A break below this barrier on a daily closing basis exposes a falling channel floor at 1267.98, followed by the 100% level at 1257.63. Alternatively, a reversal above the 61.8% Fib at 1282.47 targets the 50% expansion at 1290.15.
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Analysis
US DOLLAR TECHNICAL ANALYSIS – Prices continue to push upward as expected after putting in a Bullish Engulfing candle pattern, rising to set another six-month high. A daily close above the 50% Fibonacci expansion at 10652 exposes the 61.8% level at 10677. Alternatively, a move below the 38.2% Fib at 10627 opens the door for a challenge of the 23.6% expansion at 10595.
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S&P 500 TECHNICAL ANALYSIS – Prices are aiming to extend upward after clearing resistance in the 1985.30-91.40 area marked by the 50% Fibonacci expansion and the July 24 high, with the bulls targeting the intersection of a formerly broken channel floor and the 61.8% level at 2006.80. A further push beyond that aims for the outer boundary of the index’s long-term uptrend at 2023.50. Alternatively, a turn back below 1985.30 targets the 38.2% Fib at 1963.70.
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GOLD TECHNICAL ANALYSIS – Prices are testing support at 1272.98, the 76.4% Fibonacci expansion. A break below this barrier on a daily closing basis exposes a falling channel floor at 1267.98, followed by the 100% level at 1257.63. Alternatively, a reversal above the 61.8% Fib at 1282.47 targets the 50% expansion at 1290.15.
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source link
Analysis