Equity markets rebounded and energy prices fell on easing Middle East tensions, with key support levels holding across assets.
Nasdaq cash indices rebounded on July 27 after holding critical support at 27,900-28,000, with traders eyeing a potential move toward 29,000. The recovery follows a broader improvement in risk sentiment as concerns over Middle East geopolitical risks eased, pressuring oil prices lower.
Crude oil retreated from resistance levels, while copper remained constructive above $6.30 and natural gas faced downside risks toward $2.50. Ethereum targeted a resistance zone of $2,140-$2,150 after defending support at $1,963. Markets remain near pivotal decision levels rather than confirmed breakouts.
The rebound in equities and decline in energy prices marked a shift in tone early in the week, though sustained moves above or below key levels will determine broader market direction.