Market Analysis - April 16, 2024 by André Cardoso
DXY
The DXY is encountering channel resistance and exhibiting a bearish Gartley pattern.
US10Y
US10Y bonds are also nearing channel resistance and have already reached the target for the previously formed cup and handle pattern.
SPX500USD
The SPX500 is currently trading near the 0.382% Fibonacci retracement level, potentially serving as a support element.
GER30
The German DAX is showing signs of potential short-term recovery after breaking previous lows and fractal support.
XAGUSD
Silver is reacting lower after encountering channel resistance and hitting the target for the cup and handle pattern formed at lower levels.
WTICOUSD
Crude oil remains in bearish crab pattern territory...