- Gold is taking advantage of a weaker USD to climb higher. Technically speaking, we are in positive territory and very close to a legitimate buy signal. So far, what we have is a daily pin bar bouncing from the horizontal support at 1,307 USD/oz. What we are still missing is a breakout of the upper line of the flag formation.
- SP500 defended the upwards trend line and stopped the panic from spreading. We’re currently trying to correct the recent mayhem. I must say that buyers are doing pretty well. As long as we stay above 2,560 points (green area) the sentiment remains positive.
- Bitcoin has recently been respecting the horizontal levels. The price bounced from the 6,000 USD support before aiming at the recent one at 8.7k USD, which was positively tested as a resistance. As long as we stay below 8,700 USD (green), the sentiment towards BTC is still negative and there’s a high chance of testing the 6,000 USD area again.
Alpari - Analytics
