US Stock Market
Wall Street ended higher yesterday as comments from Federal Reserve Chair Janet Yellen eased anxiety about potential interest rate hikes. The Dow Jones rose by 0.47%, the S&P 500 by 0.44%, and the NASDAQ added 0.47% to its value. Technically, according to the daily chart, the S&P 500 is trading below the resistance line at 2,070. Holding below this line could lead the index towards 2,000, while breaching the line may take it up to around 2,130.
US Dollar (USD)
The U.S. Dollar traded lower against the major currencies after Federal Reserve Chair Janet Yellen reiterated the need to take a cautious approach to tightening monetary policy and despite data showing that U.S. non-farm private employment rose more-than-expected this month. Today, the US Unemployment Claims is expected at 266K vs 265K previously.
Gold fell, closing at $1225 an ounce. According to the 1-hour chart, gold is trading above the support line at $1224. Holding above this line may lead gold towards $1245, while breaking below the support could take it to around $1210.
Crude Oil fell, closing at $38.33 a barrel. Technically, according to the 4-hour chart, oil is trading in a triangle pattern. Breaking below the lower side of the pattern could take oil towards $36.00 a barrel. However, crossing the upper side of the pattern may lift it to around $42.00 again.