Dollar Weakness Fuels Commodities and Tech Rally

Gold (XAU/USD)

Gold in a Tight Spot – Breakout Incoming?

Gold consolidates between $2,895 and $2,925 as traders await a breakout. A move above $2,925 could target $2,940, while a drop below $2,895 may trigger selling toward $2,880.

Gold continues to consolidate within a well-defined horizontal range between $2,895 and $2,925, reflecting a state of equilibrium between buyers and sellers. The recent weakening of the U.S. dollar, driven by expectations of further Federal Reserve rate cuts, is providing underlying support for gold prices. A confirmed breakout above $2,925 could ignite bullish momentum, with the next resistance target set at $2,940. On the flip side, a breakdown below $2,895 may accelerate selling pressure, potentially pushing prices toward $2,880. Current trading volumes indicate a balanced market, suggesting no clear dominance from either buyers or sellers at this stage.

NASDAQ 100 Futures (NQ)

NASDAQ 100 Breaks Out – Next Stop: $20,000?

NASDAQ 100 futures confirm a bullish breakout at $19,700! Strong volume supports a potential move toward $20,000 and $20,200. Falling rates boost growth stocks.

NASDAQ 100 futures have confirmed a bullish breakout from an ascending triangle pattern around $19,700, reinforced by rising trading volume. Optimism surrounding tech stocks remains strong, fueled by expectations of monetary policy adjustments by the Federal Reserve. The breakout signals a potential continuation of the rally, with the next key target set at $20,000, followed by $20,200 if momentum persists. The broader macroeconomic environment, marked by declining interest rates, is making growth stocks more attractive, further supporting this upward trend in tech-heavy indices.

Copper (XCU/USD)

Copper Breaks Resistance – Can It Reach $5.00?

Copper surges past $4.85, hitting $4.88—its highest since mid-2024! If momentum holds, $5.00 is the next key target. Will the rally continue?

Copper has successfully broken above its key resistance zone at $4.85, now trading around $4.88, marking its highest level since mid-2024. The rally is driven by macroeconomic optimism, as China’s recent stimulus measures boost demand expectations and improve industrial sentiment. If this breakout sustains, copper could soon test the critical $5.00 psychological resistance. However, a short-term pullback to retest $4.85 remains possible as part of a healthy bullish trend, providing opportunities for dip buyers before the next leg higher.

Brent Crude Oil

Brent Crude Rises – Will Bulls Take Control?

Brent crude oil bounces from $68.60-$69.00, eyeing $71.75 resistance. A breakout could push prices to $73.50, while failure may send it back to $67.50.

Brent crude oil has rebounded from its key demand zone at $68.60 – $69.00, now aiming for resistance at $71.75. Prices are finding support from geopolitical tensions in the Middle East and improved demand expectations following China’s economic stimulus measures. If oil breaks decisively above $71.75, buyers could push for the next resistance around $73.50. However, a failure to sustain this move and a drop back below $69.00 could shift momentum bearish again, with downside targets near $67.50.