19:05 UTC
Uptrend reversed, now declining · RSI 43 · price 4,083.92
Lower highs since Q1 2026 peak.
The multi-quarter uptrend from ~2700 in Q1 2025 topped near 5600 in Q1 2026 and has since reversed hard; price now sits at 8-month lows around the 4000 psych pivot. The move down has been driven by energy-inflation fears reviving Fed-hike bets and a firmer USD, unwinding the blow-off rally. Price trades below both W1 EMAs with the ytd low at 3941 in focus.
Support: 4,000.00, 3,941.00
Resistance: 4,220.00
What it said to watch
- Sustained break of 3941 ytd low opens deeper downside
- Repeated failures below the 4000 psych pivot keep pressure on
- Reclaim of 4220 recent high would ease the decline
- S&P Global PMIs (24 Jul) and Middle East / Oil headlines could materially shift this read