Global Markets Technical Analysis
After the catastrophic first half of the week, the end brings us a reversal attempt on indices. On SP500 it is happening in a great place as we are currently trying to defend the neckline of a H&S pattern.
Nasdaq tries to create a hammer on a weekly chart on a crucial horizontal support around 13k points.
GBPUSD is trying to use the 61.8% Fibo as a last line of defense.
EURUSD after the breakout of the lower line of the triangle is defending on the long-term horizontal support around 1.05.
EURGBP still flirting with the 0.83 support. This week unfortunately did not change anything in the long-term situation.
Gold climbs back above 1900 USD/oz, which may effectively end the bearish correction.
Brent Oil is still locked inside of the symmetric triangle but for a change, we are about to test its upper boundaries now.
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