Summary
- Equities declined, affected by Triple Witching.
- Dollar Index (DXY) declined to its support levels, largely positions driven action.
- Crude Oil (CRUDEOIL) rose moderately on weak dollar.
- Gold (XAU) rallied, breaking resistance zone $1790.
Dollar Index (DXY)
Dollar Index declined near to its support level $95.50 and started to form an intraday bottom. We see this action after the Fed’s meeting as speculations and positions driven action. A steady upward move should start materializing. We expect a move to resistance level 97.00.
Gold
Gold benefited from the weak dollar to break its tough resistance level $1790. Despite the strong bullish momentum, we expect a profit taking action on Gold that could push it back to its broken resistance level $1790.
Crude Oil
Crude Oil is still hovering below resistance zone $75.00-$76.00. Even though the weak dollar pushed it the last two sessions, it failed to come close to the aforementioned resistance zone. Further sideway movement is expected.
U.S. Indices
S&P500 (SPX) declined sharply yesterday, affected by Triple Witching. The move does not affect the short-term trend. we still expect to end this year with an all-time high above 4700. Support levels to buy are 4600 and 4500.
Economic Calendar
Today’s U.S. Economic Calendar is empty. Markets are on its own!
Did you check our new service “Whats n Markets”?
Subscribe to our service in few steps:
- Save our WhatsApp number in you contact list +4915901881245
- Send a message to our WhatsApp: “Subscribe”
- A confirmation message will be sent to you.
- Beat the market with our analysis!