SGT Chart Book

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The threat of broader conflict in the Middle East and the anticipated ground invasion of Gaza has markets concerned with Gold and Oil prices on the rise. Traders also turned to safe haven assets like the USD and Swiss franc. The SP500 and Dow managed gains for the week, while tech heavy index Nasdaq declined.

USA30 (DOW)

Longer term trendline support off Covid lows holds and provides for rally back to the 34,000 area first resistance.

USA500 (SP500)

Uptrend still intact with first major resistance seen at down sloping trendline.

USA100 (Nasdaq)

Wedge pattern dominates technical picture.

APPL (Apple)

Down channel contains prices.

US 10 Year Rates

Trendline on short term charts provides first level of support. Closing Friday around 4.62% after testing close to 5%.

EURUSD

Downtrend prevails.

GBPUSD

Weekly down trendline contains recent rally and points to continued GBP weakness.

USDCAD

Piecing topside of larger pattern.

US Dollar Index (DXY)

Breach of S.T. trendline, before continued US strength.

Gold

Rallied 5.3% on the week to test trendline resistance around $1930/35 area.

Silver

Rallied to retest major chart break level.

US Oil (WTI)

Intra-week price activity. With largest one day gain since April.

BTCUSD

Same old……. tight ranges, support and resistance level identified on chart by horizontal lines.

Until next week, happy trading.
SGT Trade Desk

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.

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