US indices finished the trading week in the green amid optimism for the upcoming earnings reports, fueled by Citigroup's better than expected result. The S&P 500 gained by 0.48%, the NASDAQ by 0.56%, and the Dow Jones added 0.66% to its value. Technically, the S&P 500 is close to an all-time high with the index building a Double Top pattern on the 1-hour chart. Holding below the resistance level of 1,972.40 could take the index back to the 1,967 support level.
Facebook
Facebook rose by 2.35%, closing at $67.90 a share. Technically, according to the 8-hour chart, the share has gained by four dollars in the past few days, reaching the critical resistance level of $68.15. As long as the share is holding below this level, we might see a trend reversal and a fall towards $63.00. However, breaching this may take the share to an all-time high of $72.45.
US Dollar (USD)
The US Dollar traded mixed against most of its major counterparts over optimism that the US economy has gained during the second quarter. The Retail Sales report is expected at 0.60% vs. 0.30% prior and the Core Retail Sales at 0.50% vs. 0.10%. Today, Federal Reserve Chair Janet Yellen is due to speak.
Crude Oil
Crude Oil finished with few gains, closing at $101.00 a barrel. Technically, according to the daily chart, oil is still trading in an Ascending Channel. As long as it maintains its support level of $100.40, it is likely to keep climbing towards $101.80.
Gold
Gold fell by 2.47%, closing at $1,306 an ounce. Technically, according to the 1-hour chart, gold looks set to remain bullish as long as the index maintains the support level of 1,304 - also the 38.20% Fibonacci Retracement level. Breaking the psychological support of $1,300 could take gold to 1,292.
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