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SPX/USD — Tariff Fears Pressure Equities

Key Highlights

• US stock futures slide post-holiday
• Trump tariffs raise growth concerns
• Tech concentration remains a structural risk
• Earnings season offers counterbalance

Market Overview

US equities weaken as markets reopen to price Trump’s tariff escalation. Futures signal downside risk, with investors reassessing growth, valuation, and trade-war implications. While earnings optimism persists, headline risk remains dominant.

Technical Outlook (H4)

• Stochastic attempting bullish cross from oversold
• Price below 20-period EMA
• Bounce possible, trend still fragile

Key Levels

Resistance: 6894.38; 6928.69
Support: 6857.44; 6826.29

Fremora Takeaway

Oversold conditions may trigger short-term rebounds, but structural caution remains warranted below the 20 EMA. Earnings strength could stabilize sentiment, yet trade headlines remain the primary risk driver.

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USO/USD — Crude Caught Between Forces

Key Highlights

• Iran tensions ease, limiting upside
• Trade war raises demand-side risks
• OPEC+ supply increases cap rallies
• Market remains headline-sensitive

Market Overview

Oil prices stabilize as geopolitical risk from Iran fades, while Trump’s Europe-focused trade actions shift attention toward global demand risks. The result is a narrow consolidation range, with neither bulls nor bears in control.

Technical Outlook (H4)

• Stochastic rising toward overbought
• Price hovering near 20-period EMA
• Momentum improving but capped

Key Levels

Resistance: 60.13; 61.74
Support: 58.39; 56.55

Fremora Takeaway

WTI remains range-bound amid conflicting forces. Without a fresh geopolitical shock or supply adjustment, price is likely to oscillate between support and resistance. Direction hinges on trade escalation outcomes.