27 April 2012 05: 00 GMT 
THE TAKEAWAY: The S & P 500 took out the top of the range that contained prices for the past two weeks while the US Dollar slipped below support in place from late March.S & P 500 - Prices took out resistance at 1391 10-20 marked by the recent range top and the 50% Fibonacci level tracing. Bulls are now testing the 61.8 percent level at 1399.10, with a break above exposing the April 2 closing high at 1416.10. The 1391 10-20 area has been recast as near-term support.
CRUDE OIL - Prices are showing a Shooting Star candlestick below resistance at 104.90, a former level support reinforced by the top of a falling channel set from early March. The setup warns of bullish exhaustion and hints a turn lower maybe ahead. Initial rising trend line support is now at 101.98.
GOLD - Prices the top of a falling channel set from early March now at 1660.60, with a break higher exposing 1680.35. Support lines up at 1638.02, the 23.6% Fibonacci expansion. Absent a daily close above the channel top, the overall trend remains bearish.
US DOLLAR - Prices took out support at 9906 to test the next downside barrier at 9879. Continued selling through this barrier exposes 9832. The 9906 level has been recast as near-term resistance, with a push back above seeing trend line resistance now at 9926.
THE TAKEAWAY: The S & P 500 took out the top of the range that contained prices for the past two weeks while the US Dollar slipped below support in place from late March.S & P 500 - Prices took out resistance at 1391 10-20 marked by the recent range top and the 50% Fibonacci level tracing. Bulls are now testing the 61.8 percent level at 1399.10, with a break above exposing the April 2 closing high at 1416.10. The 1391 10-20 area has been recast as near-term support.CRUDE OIL - Prices are showing a Shooting Star candlestick below resistance at 104.90, a former level support reinforced by the top of a falling channel set from early March. The setup warns of bullish exhaustion and hints a turn lower maybe ahead. Initial rising trend line support is now at 101.98.
GOLD - Prices the top of a falling channel set from early March now at 1660.60, with a break higher exposing 1680.35. Support lines up at 1638.02, the 23.6% Fibonacci expansion. Absent a daily close above the channel top, the overall trend remains bearish.
US DOLLAR - Prices took out support at 9906 to test the next downside barrier at 9879. Continued selling through this barrier exposes 9832. The 9906 level has been recast as near-term resistance, with a push back above seeing trend line resistance now at 9926.
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