US Market Roundup: Unrest in Middle-East take centerstage

Gold/USD H4


Gold continued its downward trend after enjoying a short reprieve on 8th Oct. Prices are still relatively supported around the bottom of the trading range found Mid September and also the upward trendline linking the previous swing lows together.

S&P500 Futures H4


A potential Eve-Adam double top forming on the 4hourly. Prices has broken through of the previous trading range found in Mid September while currently threatening to go even lower.

DJI Futures H4


Showing the same double-top potential as S&P500, with the implication that there could be strong bearish follow through should the double-top pattern is confirmed as both equity indices are in agreement.

Brent Crude Oil Daily


Crude broke higher away form the trading range we are familiar the past 2 weeks on the back of Middle Eastern concerns. If we break above the upward trendline during Asian/Europe sessions, we could see price revert back to trading ranges between $112.5 – $117.5 per barrel. Failure to break higher will bring back current trading range of $108 – $112.5 back into focus.


Interesting to note see that Equities heading lower while Oil and Gold are relatively supported. Generally when there are political instability/threats of wars, we will see equities heading lower while commodities prices will rally. This will be yet another monkey on Equities Bulls as we already have threats of economic crisis to content with.


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