SGT Chart Book

Market Observations|08 May 2023

USA30 D:

After selling off to below 33,000 earlier in the week, the market has turned up and looks like it wants to retest the trendline resistance. The market is digesting FOMC and the latest employment data.

Apple D:

A clear break in the trendline resistance can be seen.

XAUUSD:

Brief break above the 2022 highs around $2,070 before selling pressure kicked in, to retest $2,000. Bearish divergences are seen between the price and technical indicators.

EURGBP:

After a very brief break above the 0.8860 resistance level, the cross is retesting the year’s lows around 0.8720.

BTCUSD:

Continues to hold above chart support at $26,400, then major support at $25,200.

Disclaimer: Trading Desk Observations are not trade recommendations. The purpose of these charts is to bring to your attention potential chart patterns you may wish to monitor.