Talking Points: US Dollar Consolidating Below December Swing Top S&P 500 Sets Record High , Meets Chart Resistance Crude Oil Inching to Psychological $100.00 Barrier US DOLLAR TECHNICAL ANALYSIS - Prices rose as expected after putting in a bullish Piercing Line candlestick pattern. Resistance is now at 10723, the 50% Fibonacci expansion, with a break above that exposing the 61.8% level at 10760. Support is in the 10669-85 area, marked by the December 4 swing high and the 38.2% Fib. S&P 500 TECHNICAL ANALYSIS - Prices are testing resistance at 1843.40, the 50% Fibonacci expansion, with a break higher exposing the 61.8% level at 1863.00. Near-term support is at 1823.80, the 38.2% Fib, followed by the November 29 high 1813.10 and horizontal pivot cluster in the 1773.40-1782.60 area. GOLD TECHNICAL ANALYSIS - Prices are edging higher as expected after putting in a Harami candlestick pattern. Near-term resistance is at 1217.75, with a break above that exposing the 1251.54-67.71 area. Near-term support is at 1186.83, the December 20 low. CRUDE OIL TECHNICAL ANALYSIS- Prices are testing resistance at 99.69, the 50% Fibonacci expansion, with a break higher targeting the 61.8% level at 100.51. Support is in the 98.74-86 area, marked by the 38.2% Fib and a horizontal pivot level. Reversing beneath that initially eyes the 23.6% expansion at 97.84.
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- FDIC Sues Big Banks Over Rate Manipulation
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Stocks Close Lower Ahead of Crimea Vote
- Vybz Kartel Convicted of Murder
- U.S. Consumer Sentiment Falls in Early March
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Ulta Shares Look Good on Strong Q4
- FDIC Accuses Big Banks of Fraud, Conspiracy