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Gold and Bitcoin strength sparks focus on key breakout levels
The outlook highlights specific triggers, including a potential S&P 500 futures push toward 7,600 if 7,550 holds as support.
Forexlive reports that precious metals and major cryptocurrencies led bullish signals, while US stock indices attempted to recover after tests of key levels.
In the US stock complex, S&P 500 futures turned higher after recovering from support, with a sustained move above the prior high near 7,550 flagged as a possible path toward 7,600, though another rejection from 7,550 could leave the rebound vulnerable.
For the Dow, the main bullish confirmation level for the cash index is 52,150, with acceptance above it suggesting buyers are regaining control, as the article notes that acceptance typically means price remains above the level and defends it during pullbacks.
On commodities and crypto, Gold is described as having broken above an April-high resistance structure, with the 4,040 to 4,045 area now seen as potential support, while Ethereum cleared a longer-term resistance area with roughly $2,150 noted as the next upside objective. Bitcoin, meanwhile, is viewed as constructive after defending major support near $57,000, and the review also points to crude oil testing resistance near $90 and Brent near $95.
Latest closeGold $3,981.40 ▼1.6%|WTI crude $79.00 ▼0.8%|Brent $84.94 ▼0.0%