U.S. Indices continued to grow yesterday as they did it on Friday, but they closed near the bottom. Market sentiments are neutral as we are still in a channel after the medium-term trend penetration. The top (as well as the resistance) of S&P Index is $1.945. Decisive battle between buyers and sellers will be held at the level of $1.952. If the market is to be opened with a decrease and pass the previous day’s bottom and 8 EMA, then we may well see the resumption of sales at the medium-term target of $1.905.
Gold is building a pattern above 8/21 EMA after it has broken the downwards channel. The longer it holds up above $1.300-05, the more chances there are that upward movement would be resumed with a target of $1.322 and $1.339 after that.
Microsoft is consolidating near the bottom with a resistance of $43.45 after it has fallen from highs. This range penetration in the area of about $43.00 and $42.60 after that, may activate sellers with a target to potential levels of about $42.00 and $41.50 later on.