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Crude Oil Under Pressure Anew, SPX 500 Aims to Extend Recovery
CRUDE OIL TECHNICAL ANALYSIS – Prices are back under pressure, testing support near a five-month low. A daily close below the 50% Fibonacci expansion at 52.37 exposes the 61.8% level at 50.66. Alternatively, a reversal above the 38.2% Fib at 54.08 targets the 23.6% expansion at 56.20. GOLD TECHNICAL ANALYSIS – Prices are on pace to challenge July’s swing bottom after piercing range support. A break below the 23.6% Fibonacci expansion at 1078.10 exposes the 38.2% level at 1058.48. Alternatively, a move above the 14.6% Fib at 1090.20 targets the 23.6% Fib retracement at 1103.00. S&P 500 TECHNICAL ANALYSIS – ... (full story)