Fibonacci Extension

Dow Jones weakness may be approaching exhaustion as the index trades near closely watched Elliott Wave targets and support around 50,500. Oversold NYSE breadth, stretched internal indicators and emerging technical divergences suggest a renewed rally could develop over the coming days to weeks.

The S&P 500 is approaching a pivotal technical test as seasonal weakness lines up with a possible Elliott Wave decline. A break below 7,638 could shift attention toward the 7,100–7,200 area, while a hold may keep the bullish case alive.

Platinum futures are testing the upper end of a major bearish gap after breaking out of consolidation, while copper has pulled back after reaching a Fibonacci extension target. Daily closes remain the key signal for whether buyers can extend momentum or whether deeper corrections begin.

Platinum and copper have extended bullish breakouts into major resistance zones, while the dollar and palladium remain highly sensitive to daily closing levels. FXCOINZ examines the technical areas traders are watching as momentum, gaps and support zones shape the next move.

The S&P 500 remains locked in a complex Elliott Wave correction, with traders watching whether price action confirms a renewed rally or a deeper pullback. A move above 7,551 would strengthen the bullish case, while a break below 7,348 could shift attention toward the 7,140 area.