Technical Analysis

  DXY ▼ 101.909 −0.18% Futures – 4 April 2023 – Watch Video     Do you like the video? Register now for Trader’s classroom for only $65 for a Lifetime and don’t miss the best education with trades!                

SPY is testing the strong upside consolidation resistance of 410 which is also the triangle resistance. A target higher in the medium term could be 450 if we get a break above 410; in the case of a reversal lower, we could see a test of 380.      

Oil is breaking below the strong downside resistance of 72 which is also the neckline H&S formation. A target lower in the medium and long term could be 56. To invalidate this extension lower we need to see a break above the 77 downside support level.     On the weekly

XAUUSD is breaking above the strong upside resistance of 1940 and is heading higher. A target higher in the medium and long term could be 2070. We had an easy break above 1920 and 1940 which can indicate a significant strength for a push higher to at least 2040.  

XAGUSD is reaching long-term support of 19.80. It is a previously broken horizontal resistance to the upside and an uptrend line along with long-term Pitchfork channel support. This support must hold for the upside continuation and another test of the most important Pivot 24.     On the weekly XAGUSD