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Markets Churn in Narrow Ranges, Bulls and Bears Jostle

On July 23, 2026, markets exhibited a narrow-range churn pattern, lacking any major economic events to drive direction, keeping investor sentiment cautious.

Among major indices, SP500 fluctuated near 7514.45, with a short-term balance between support at 7491.65 and resistance at 7519.45; the Hang Seng Index hovered around 24954.5, with limited intraday movement. The forex market also lacked direction, with EURUSD consolidating narrowly near 1.14163 and USDJPY trading around 163.052. In precious metals, gold oscillated around $4135.84 per ounce, while silver moved near $59.904 per ounce. Crude oil edged slightly lower, with WTI trading around $87.305 per barrel.

On the technical front, ATR values across most instruments were generally low, indicating subdued volatility. At present, neither bulls nor bears hold a clear advantage, and the short-term trajectory may remain range-bound until a new catalyst emerges.

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