ES
US equities have had a major run to the upside since we broke back above the 20 Period MA around the announcement of the ceasefire in the Middle East. With all time highs likely to break at 7093 there is no resistance to speak of above. Caution would be advisable for anyone looking, for unknown reasons, to pick tops. Support now lies below at 6962 followed by 6850.
OIL
With panic behind us and the market getting used to the political pattern of escalation followed by de-escalation, oil seems to be settling back under $100. For now, it would seem tops are likely to be in after the last failed push to 117.63. Resistance now lies between $98 and $99 with a closing gap at the higher end of this range and 20 period MA moving lower. Through $84.37 would open the way to $78 followed by $67.83 as final targets.
NQ
With Nasdaq through all-time highs there is again a lack of necessity to go top hunting with no resistance. Support lies at 25494 followed by 25210. Only through here would there be renewed concern of a shift to the downside. For now bulls remain in control. The lack of levels and options here for traders warrant a cautious approach.
Cable (6B)
The Dollar has had some respite with the renewed hope of an end to conflict as well. The weakening of the Dollar has given way to a rise in the cable back above the 20 period MA and prior resistance at 1.3475. This resistance has now turned into support as our first point to monitor. Below here lies 1.3380 which by the time we get there is likely to coincide with the now upward sloping MA. Resistance now sits above at 1.3732 followed by 1.3869.