After yesterday's correction phase, the markets are showing a slight recovery on Tuesday morning. Precious metals and cryptocurrencies are struggling with resistance levels, while US indices are trending somewhat firmer again. The dollar remains stable. Here is an overview of the most important developments.
Precious Metals: Recovery, but Resistance at $4,900 / $86
Gold has recovered after yesterday's low and is currently trading around the $4,900 mark (spot & futures). From yesterday's daily low, the price has gained around 5–6 %, but is hitting exactly here a technical resistance (former intraday high and round number). A sustainable break above could end the correction and revive the uptrend. If the price stays below, a further test of the 4,800–4,850 zone is threatened.
Silver shows a similar picture: Currently around $86, after a strong rebound from the low. Here too there is a resistance (former high and Fibonacci level) that is currently braking the price. Silver remains more volatile than gold and reacts more strongly to dollar movements and risk appetite.
Cryptocurrencies: Bitcoin Fails at $79,000
The crypto market is moving predominantly sideways. Bitcoin is currently trading at around $78,100 and has not yet been able to sustainably overcome the $79,000 mark. After yesterday's pullback, BTC has gained a bit again, but remains in a narrow range (77,000–79,000 USD). Ethereum and larger altcoins show similar patterns – no clear direction, rather waiting. The correlation to stocks is still high, which is why a firmer US stock market could also support cryptos.
US Indices: Pre-Market Back Above 7,000 Points
The major US indices are trending slightly positive again this morning after yesterday's light minus. The S&P 500 is in pre-market at around 7,012 points and thus back above the important 7,000 mark. Nasdaq and Dow show similar recovery tendencies. Sentiment is still fragile – the market is waiting for new impulses from data or news. As long as no negative surprises come, the zone 6,900–7,000 could hold as short-term support.
Dollar stable – EUR/USD just above 1.18
The US Dollar Index (DXY) remains stable and is currently trading around 97.17. Against the euro (EUR/USD ~1.1850), the dollar has held its position. The stabilization comes after yesterday's PPI data and Fed hawkishness – a firmer dollar burdens commodities and risky assets, but indirectly supports US stocks.
Conclusion
The market remains nervous, but shows first signs of stabilization: Precious metals and cryptos recover slightly, but hit resistance, while the indices climb back above important marks. The dollar holds. The direction of the markets depends heavily on the next impulses (data, news, geopolitical situation). Anyone who wants to follow prices live on PC or smartphone will find a neutral overview here of established platforms that cover almost the entire range of assets: To the Trading Platform Overview.
