DAILY MARKET OVERVIEW DXY, XAUUSD, OIL, COPPER, S&P500, DAX, NIKKEI
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DXY-USDollar index
The instrument is pulling back after the long-term Pitchfork median line test 103 level. Look for a pullback to 100.
The ARMAT trading system is neutral.
Note: stay away from the trade entries
XAUUSD
Gold has failed to break above the 1690 level and is pulling to a support 1550-1580 zone. It has broken below the support zone but it is bouncing from 1460 Fibo 50% retrace. A break above 1518 is required for an upside reversal.
Note: look for the long trade entries on a break above 1518
OIL
Oil is bouncing off the long-term wedge support 21 level. A key for recovery to 43 is 31. The ARMAT trading system is neutral.
Note: look for the long trade entries with the stop loss below 21
COPPER
The instrument is consolidating after the 250 level breakout. Look for the recovery into this level from here
Note: stay away from the trade entries for now
DAX
The instrument is bouncing from the 8000 level of support. Recovery could lead to a 10700 test. The ARMAT trading system is bearish
Note: look for the long trade entries with the stop loss below 8500
S&P500
The instrument is bouncing after the support 2300-2400 zone bounce test. ARMAT trading system is bearish.
Note: look for the long trade entries with the stop loss below 2400
NIKKEI
Is testing the downside resistance 16500 level also a long-term Pitchfork channel support. The ARMAT trading system is neutral.
Note: stay away from the trade entries for now
The daily market overview is a comprehensive look at all market classes and it will give you the full daily insight of the market positioning for further actions.
Technical analysis of instruments listed here is just an indication of possible price movement and does not indicate any trade action which could be initiated by investors and members of this site.