Chainlink Reacting off Major Support
Chainlink (XLIUSD) is currently rebounding off the major support zone between 8.11-11.06. The last rebound, in April, saw an impressive 78% move! Keep an eye on the 14.17 resistance level for potential further developments. Source: Bloomberg
Crude Oil Double Bottom?
Crude Oil WTI made a massive move today. While the long-term trend remains bearish, we are seeing signs of a short-term trend reversal. The market is back in the long-term range between 62-94. The key level to watch is 72.28 resistance. A close above this level would not only confirm the trend reversal but also validate the Double Bottom pattern. Source: Bloomberg
S&P 500 Index Entering Supply Zone
After a stunning 25% rebound in just 1 month, the S&P 500 is now entering the supply zone between 6047-6147. Will it have enough strength to break through this level and post a new high? Source: Bloomberg
Novo Nordisk First Positive Sign in Bear Market
For the first time since June 2024, Novo Nordisk saw a positive close yesterday! While the long-term bearish trend hasn’t reversed yet, we’re seeing positive developments on the daily chart. The weekly chart remains bearish. The end of April rebound from the support zone between 365-380 is encouraging, but we’ll need more price action to confirm these first steps. Source: Bloomberg
Bitcoin technicals by J-C Parets
Satoshi Nakamoto passes Nvidia CEO Jensen Huang to become the 11th richest person in the world.
‼️The S&P 500 is trading at a MASSIVE technical level:
The S&P 500 has recovered some losses and broken above its 50-day moving average for the first time since February. However, it is still trading below its key 200-day moving average, a level smart money is watching. Will progress on US-China tariffs help the market break key resistance levels? Source: Bloomberg, Global Markets Investor
DAX Index Reaching Ultimate Supply Zone
The DAX Index has now rebounded 26% since the lows! Will the market be able to break through the last supply zone between 23,240-23,476? Keep an eye on the price action and support at 23,133. Source: Bloomberg
S&P 500 Index Back on 1st Supply Zone
The S&P 500 Index has rallied 17% since the lows and is now back on the 1st important supply zone between 5571-5695. Will it be able to close above 5695? Keep an eye on the price action over the next few days. Source: Bloomberg
