ES
Still looking very heavy and potentially entering a longer term bear trend, something we haven’t seen for a long time and traders may struggle to adapt to. On a weekly basis we have continued our run of lower lows and lower highs. Resistance has moved lower to 6635 and above that the 20 period MA still sits as a strong barrier at 6735. Looking below a move under current lows at 6480 will see us look to 6408.
OIL
Calming somewhat we have seen oil range from around $85 to $100. The 20 period MA once again has shown importance as it has held from below twice this week. Currently this supports us at $90 and whilst things in the Middle East remain unsure it is likely we continue our grind higher using this area. Below would see us challenge $85 again followed by the $77 area. To the upside resistance lies at $102.50. A break of here would open the way to challenge recent panic highs at $120.00 with attention at $107.50 on the way.
NQ
Similarly to the S&P we see the Nasdaq looking weaker. Clean breaks of the lows we currently sit at of 23780 would open the way to 23029 areas. On the way we see support at 23510 and 23277 (closing gap). Resistance now weighs on us at 24000 and 24250. On a weekly basis the close today will be very important, possibly being the lowest since September 2025.
Cable (6B)
Turmoil in the Middle East still sees Dollar strength be the play across the board. With the Cable weakening we see the current range as roughly 1.32 to 1.3450. Resistance has moved lower to 1.3350 as we have broken from some inside day patterns to indicate a continuation of the down trend as likely. Only above here does it negate this. A retest of 1.3218 is on the cards followed by 1.31.