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Dollar may pull back but S&P 500 setup hints larger trend favors gains
The US Dollar may weaken near term but the S&P 500 technical setup hints a top is in the works, pointing to a broadly bullish bias for the safe-haven currency. S&P 500 – Prices continue to tread water below resistance at 1292.90, the October 27 high, with back-to-back Doji candles pointing to indecision and hinting a bearish reversal may be ahead. Initial support stands at 1265.30, with a break below that targeting a rising trend line now at 1247.00. Daily Chart - Created Using FXCM Marketscope 2.0 CRUDE OIL – Prices remain locked between support at 101.28 and resistance at 103.35, the November 17 high. A downward ... (full story)