Wall Street opens at 18:30 Dubai time, the first session on US winter hours. Oil keeps falling (WTI -4.5%, Brent -7.68%) while gold and silver hold small gains from oversold levels. S&P 500 and Nasdaq 100 figures below are Friday closes; futures point higher (ES +0.36%, NQ +0.65%) ahead of the ISM manufacturing PMI at 19:00.
New York ·
Gold trades at 3911.1, up 0.31%, but below the pivot 3938.8 and far under MA20 (4102.76). RSI 29.5 is oversold.
What to watch: The London range of 3900.1 to 3916.4, and the dollar's reaction to the ISM data.
Scenario: If price holds above 3938.8, the next resistance is 3998.3; a break below 3900.1 would bring 3839.4 into view.
R: 3998.3 / 4097.7 · P: 3938.8 · S: 3839.4 / 3779.9
Silver is up 2.13% at 50.145, just above the pivot 49.941, but MA20 (56.168) is well overhead and RSI 27.5 is oversold.
What to watch: Whether the 50 handle holds and the London high of 50.585.
Scenario: Above 50.996 the next level is 52.896; a slip below 49.941 would point to 48.041.
R: 50.996 / 52.896 · P: 49.941 · S: 48.041 / 46.986
WTI is at 99.43, down 4.5% and well below the pivot 103.85. It still holds above MA20 (97.94), and RSI 52.6 is neutral.
What to watch: The London low of 99.12 and the round 100 level. A Yahoo Finance headline notes oil prices falling.
Scenario: Below 99.12, MA20 at 97.94 is the next support; a return above 100.83 would open 102.7.
R: 100.83 / 102.7 · P: 103.85 · S: 99.12 / 97.94
Brent fell 7.68% to 108.61 and is now below MA20 (109.36). The gap versus WTI may partly reflect a front-month contract roll, so treat the daily change with care.
What to watch: Today's low of 108.18 and the London high of 110.39.
Scenario: If 108.18 breaks, the round 105 level comes into view; a recovery above 110.39 would point to 112.38.
R: 110.39 / 112.38 · P: 116.97 · S: 108.18 / 105
The cash S&P 500 has not opened yet; its last price is Friday's close of 7580.07 (-1.82%), right at the pivot 7581.7 and below MA20 (7729.9). ES futures trade at 7641.5.
What to watch: Whether the opening gap implied by futures holds after the ISM release at 19:00 (forecast 54.6, previous 54.5).
Scenario: Holding above 7581.7 would target 7635.85 then 7691.62; a drop below 7525.93 would bring 7471.78 into play.
R: 7635.85 / 7691.62 · P: 7581.7 · S: 7525.93 / 7471.78
The Nasdaq 100 closed Friday at 28384.85 after a 3.46% drop, below the pivot 28397.18 and MA20 (29933.09), with RSI 34.9. NQ futures are up 0.65% at 28720.5.
What to watch: Whether tech buyers return at the open, and the Fed Goolsbee speech at 20:15.
Scenario: Above 28701.12 the next resistance is 29017.39; below 28080.91 the index could test 27776.97.
R: 28701.12 / 29017.39 · P: 28397.18 · S: 28080.91 / 27776.97
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 ·
