US Dollar Index -Trend negative. US Dollar index is trading lower and any break below 97 level confirms major weakness. It will take the index down till 96.75/96.43.
US 10 year yield- Overall trend negative. It has shown a minor jump of 4% after hitting 21-month fresh low at 2.05%. It is currently trading around 2.116%.
S&P500: Short term trend - Bullish.It is trading well above 200-day MA on rate cut hopes and a jump till 2845 likely.
Gold has recovered after a minor decline till $1319.87 after more dovish comments by Fed Chairman.It is currently trading around $1326.50.
On the higher side, near term resistance is around $1330 and any violation above will take the yellow metal to next level till $1340/$1346.50.
The near term support is around $1314 and any break below confirms minor weakness a dip till $1304/$1298. Any major weakness only below $1298.
It is good to buy on dips around $1319-20 with SL around $1313 for the TP of $1330/$1338.
