Ahead of the New York open at 17:30 Dubai time, the US dollar index is 0.34% lower, yet gold (-0.63%) and silver (-2.36%) are still falling and trade below their 20- and 50-day averages. Nasdaq 100 futures are down 2.03% and S&P 500 futures 0.87% after Amazon and Intel earnings rattled investors (Yahoo Finance). US Employment Cost Index (16:30, forecast 0.8%) and Chicago PMI (17:45, forecast 56.1) set the tone.
New York ·
Gold is near 4006, below the classic pivot 4043.13 and well below MA20 (4120.39) and MA50 (4296.94); RSI 34 shows weak momentum that is not yet oversold.
What to watch: A hold of S1 4004.57 during the open; the London low was 3982.2.
Scenario: Below 3977.73 (S2) the downtrend extends; a return above 4043.13 would neutralise the bearish bias.
R: 4038.2 / 4069.97 · P: 4043.13 · S: 4004.57 / 3977.73
Silver is the weakest metal at 50.96, below its pivot 52.42 with RSI 25.3, in oversold territory.
What to watch: Oversold readings can trigger sharp rebounds; watch 50.48 (today's low) and the round 50 level.
Scenario: A close back above 51.621 would ease the pressure; below 50 the selling may extend.
R: 51.621 / 52.42 · P: 52.42 · S: 50.48 / 50
WTI is up 1.62% at 103.65, above R1 103.4 and above MA20 (97.41); RSI 61 is firm without being stretched.
What to watch: Today's high 104.99 and R2 104.81 are the nearest resistance.
Scenario: Holding above 103.4 keeps the upside bias; a drop below 102.43 would signal fading momentum.
R: 104.81 / 104.99 · P: 101.6 · S: 103.4 / 102.43
Brent is down 1.83% at 112.78 while WTI rises; part of the gap may reflect a front-month contract roll, so the daily change should be read with caution.
What to watch: Price is below the pivot 114.64 but above MA20 (108.7).
Scenario: Reclaiming 113.16 opens 114.07; below 111.45 the next support is today's low 111.05.
R: 113.16 / 114.07 · P: 114.64 · S: 111.45 / 111.05
The cash index closed at 7720.39, just above its pivot 7714.51, with RSI 50.8. Futures at 7687 (-0.87%) point to a lower open.
What to watch: Whether the open holds 7696.82 (S1) after the ECI release.
Scenario: A recovery above 7738.09 would reverse the early weakness; below 7673.24 the pressure builds.
R: 7738.09 / 7755.78 · P: 7714.51 · S: 7696.82 / 7673.24
The Nasdaq 100 closed at 29402.51, below MA20 (30054.25) and MA50 (29812.87); futures are 2.03% lower after tech earnings.
What to watch: Supports 29267.11 and 29131.7 are likely to be tested early.
Scenario: Only a return above 29527.86 would ease the bearish bias.
R: 29527.86 / 29812.87 · P: 29392.45 · S: 29267.11 / 29131.7
This analysis is general market commentary for information only. It is not investment advice or a recommendation to buy or sell any instrument. Trading leveraged products such as forex and CFDs carries a high risk of losing money. Prepared with automated tools from a market data snapshot (Yahoo Finance prices, economic calendar, public news headlines); prices may be delayed.
Invvex ·
