Pre-market

DXY

From a daily chart perspective, the DXY is in a trading range. Currently, the likelihood is that it will experience a second leg down, a third leg down, or form a double top. Target is 103.173

ES

The odds for ES are likely to form a double top and return to the trading range. Although it was previously in a well-developed trend, the deep pullback from April 1, 2024, to April 18, 2024, makes it more probable that it will form a trading range instead of continuing the uptrend.

• Daily R: 5329/5348

• Daily S: 5286/5275

GC

After forming a double top, GC has yet to break the neckline. Given the odds of DXY having a third leg down, it is probable that gold will experience a small pullback before continuing to drop until it touches the neckline at 2288.

• Daily R: 2375

• Daily S: 2329/2311/2288

Post-market

Holiday, market is closed