Tuesday, July 7, 2015

Crude Oil Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap

By Ilya Spivak, Currency Strategist

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US DOLLAR TECHNICAL ANALYSIS – Prices moved upward as anybody may expect in the wake of making a bullish Morning Star sconce layout. An orderly close over the 61.8% Fibonacci development at 11985 uncovered the 76.4% level at 12044. Of course, a turn underneath the half Fib at 11937 makes space for a test of the 38.2% level at 11888.

Grungy petroleum Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap

 
Crude Oil Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap

S&P 500 TECHNICAL ANALYSIS – Prices recuperated to close the after quite a while opening separated that rose in the wake of the outcome of Greece's EU duty bargain choice reliably. From here, a break over the 38.2% Fibonacci retracement at 2076.00 uncovered the half level at 2086.30. Then again, a move underneath the 23.6% Fib at 2063.40 objectives the 14.6% progression at 2055.60.
Foul petroleum Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap
 
Crude Oil Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap

GOLD TECHNICAL ANALYSIS – Prices keep uniting in unmistakable territory in the wake of testing the base level in four months. A regulated close underneath the 61.8% Fibonacci extension at 1162.64 uncovered the 76.4% level at 1152.47. On the other hand, a move over the half Fib at 1170.86 destinations the 38.2% expansion at 1179.07.


Crude Oil Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap
Foul petroleum Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap

Foul petroleum TECHNICAL ANALYSIS – Prices vivified sliding, issuing the best reliably lessen in more than seven months. From here, a break underneath the 61.8% Fibonacci retracement at 54.50 uncovered the 76.4% level at 50.94. On the other hand, a move back over the half Fib at 57.39 objectives the 38.2% retracement at 60.27.
 
Crude Oil Drops Most in 7 Months, SPX 500 Closes Weekly Open Gap
   
Written by Ilya Spivak, Currency Strategist for DailyFX.com




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