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US Dollar Nears Technical Crossroads, Crude Oil Flounders Sub-105.00
US DOLLAR TECHNICAL ANALYSIS – Prices began to recover as expected afterputting in a bullish Piercing Line candlestick pattern. Initial resistance lines up in the 10470-84 area, marked by the underside of a previously broken falling channel and the 23.6% Fib retracement. A break above the latter barrier targets the 38.2% Fib at 10536. Near-term support is at 10400, the April 10 low. S&P 500 TECHNICAL ANALYSIS – Prices rebounded as expected after putting in a Piercing Line candlestick pattern. Buyers are now poised to challenge the 38.2% Fibonacci expansion at 1870.70, with a break above that exposing the 50% ... (full story)