The U.S. and European markets were mostly range-bound today without any major driving forces. The NASDAQ and S&P 500 indexes had a high correlation in their price movements, fluctuating within their respective technical support and resistance levels. Gold trading was pressured by a stronger dollar, trading within the $4,580-$4,615 range. Brent crude price remained above $92, albeit with limited upside momentum as both BRENT and WTI crude were approaching their technical resistance levels.
There were no significant economic events today. Traders mainly referenced technical indicators to find entry or exit points. In trading strategy, investors need to closely watch for key support and resistance levels and potential technical patterns, which should be evaluated in conjunction with underlying supply and demand data.
Free trading calculators: https://gfil-lab.com/tools/