Crude Oil Drops to 6-Week Low, SPX 500 Trying to Launch Recovery march

US greenback TECHNICAL ANALYSIS – costs could also be activity to correct lower as negative RSI divergence warns of weakening optimistic momentum. Near-term resistance is at 12221, the five hundred Fibonacci enlargement, with an occasion on top of that on a daily closing basis exposing the sixty one.8% level at 12335. as an alternative, a reversal back below the thirty eight.2% Fib at 12107clears the manner for a take a look at of the twenty three.6% enlargement at 11965.

  S&P five hundred TECHNICAL ANALYSIS – costs skint upward, with patrons currently targeting the thirty eight.2% Fibonacci retracement at 2093.50. an opportunity on top of that on a daily closing basis exposes the five hundred level at 2110.00. or else, a reversal below the twenty three.6% Fib at 2073.10 targets the 2033.00-40.10 space (March eleven low, 61.8% Fib retracement).

GOLD TECHNICAL ANALYSIS – costs area unit digesting losses once dropping to a three-month low. a chance on top of the five hundred Fibonacci enlargement at 1163.43 on a daily closing basis exposes the thirty eight.2% level at 1177.51. as an alternative, a push below the sixty one.8% Fib at 1149.35 targets the seventy six.4% enlargement at 1131.92.

CRUDE OIL TECHNICAL ANALYSIS – costs resumed pushing lower, slippery  to rock bottom level in six weeks. A daily shut below the five hundred Fibonacci retracement at fifty four.08 exposes the sixty one.8% level at fifty one.97. as an alternative, a reversal on top of the thirty eight.2% Fib at fifty six.18 targets the fifty eight.17-78 space marked by the twenty three.6% retracement and therefore the Gregorian calendar month six shut.