Markets moved sharply over the past week, leaving earlier breakouts either tested or reversed and creating fresh gaps that now define near-term levels across the dollar, metals, equities and softs. In the Dollar (DX.F), last week’s close above the 38.2% Fibonacci retracement of the July 28–Aug 20 decline failed to fill the bearish gap at 99.83–99.85, and the index has since slipped back below that retracement, turning attention to the 99 area. A hold keeps 99.68 in view, while a break targets 98.72–98.83 and, if the May 15 gap is closed, 98.30–98.46 around the 50% and 78.6% Fibo.
Silver (SI.F) pulled back after failing at the 6804–7076 bearish gap, but support has formed around the retested red declining trend line and the bullish gaps at 6349–6380 and 6546–6601, keeping 7000 and 6804–7076 in play on daily closes above the line. Nasdaq 100 E-mini (NQ.F) continues to lean on the Aug 4 gap at 28891–28930; while it stays open, 29811 and then 30000 remain the upside markers, with a daily close below 28891 negating the setup. In Coffee (KC.F), price broke beneath the 300.20–357 range and tested the red declining channel plus the 50% Fibo; a close below the channel points to 281.40, then 263.73 and 252.30–255.20, while a daily close back above 300.20 reverses the breakdown.
Key Technical Setups Across Asset Classes
We are looking at a highly active trading environment as we enter September 2026, with major pivots across multiple asset classes. Recent macro shifts require us to re-evaluate our key levels and prepare for immediate volatility. Let’s break down the exact setups we are watching and how to trade them in the coming weeks.
We need to monitor the dollar closely as it tests the critical 99 support level. This weakness aligns with historical easing cycles, where the US Dollar Index typically drops by an average of 5% in the months following consecutive central bank rate cuts. If sellers push below 99, we will target the 98.72 to 98.83 range, while a successful defense keeps a rebound toward 99.68 in play.
For silver, we are keeping a close eye on the red declining trend line and the bullish gap at 6546-6601. The Silver Institute’s latest reports point to a continuous structural deficit of over 180 million ounces, providing a strong fundamental floor for precious metals. As long as we hold above this technical support on a daily closing basis, a run toward the 7000 target remains highly probable.
Major Sector Drivers and Trading Plans
We see the Nasdaq 100 holding its ground above the key support gap of 28891-28930. This structural strength is supported by massive tech sector growth, where capital expenditure on AI infrastructure is estimated to top $200 billion. If this gap stays open, we expect buyers to target 29811 before aiming for the psychological 30000 level.
We are monitoring coffee prices as they break below the 300.20 consolidation floor. Crop damage from extreme weather in Brazil and Vietnam has kept global stockpiles tight, making this technical breakdown highly significant. A clean close below the red declining channel shifts our target to 281.40, whereas a move back above 300.20 will invalidate the bears.
