Technical Analysis Weekly (05-04-26)Wall Street, DailySPREADEX:DJISpreadexWall Street is pulling back within its near term bearish trend, trading just below the VWAP as price attempts to stabilise following the sharp multi-week selloff. The RSI has recovered to the mid-40s, suggesting some tentative buying interest is emerging, though the index needs a convincing close back above the VWAP to confirm a meaningful shift. Germany 40 is in a bearish correction phase, trading just below the VWAP as it attempts to find a base after the brutal selloff of recent weeks. The RSI has recovered to near 50, indicating that the worst of the selling pressure may have passed, though sellers will likely defend the VWAP and the downtrend line above remains a significant hurdle. UK 100 has bounced strongly from its recent lows and is now trading above the VWAP in a pullback phase within the broader bearish trend. The RSI has recovered to nearly 60, reflecting the strength of the rebound. However, the index faces resistance near the prior breakdown zone, and whether this bounce becomes a sustained recovery or a bear market rally will be the key question for the week ahead. GBP/USD continues its sluggish bearish trend, while trading below the VWAP as the pair continues to drift lower from its February highs. The RSI remains in the low 40s, reflecting modest but persistent bearish pressure. The pair is approaching long-term support near 1.30, and a break of this level could accelerate selling, while a bounce would keep the broader sideways range intact. EUR/USD is in a bearish correction phase, trading right on top of the VWAP as it consolidates the recent sharp decline from February highs. The RSI has stabilised in the mid-40s, suggesting the pace of selling has eased. A sustained move above 1.16 and down-trendline resistance would be needed to signal a more meaningful recovery, while the long-term uptrend support line around 1.14 remains the key level to watch on the downside. USD/JPYcontinues its tight consolidation below the 160 threshold, with price and VWAP essentially aligned around 159.5 as the pair consolidates near multi-month highs. The RSI is in neutral-to-bullish territory, consistent with a measured pause rather than a reversal. A clear break above 160.50 resistance would be a significant bullish development, while a failure here risks a retest of the 157-158 support zone. Gold remains in a broader sideways range, having gathered steam above 4500, trading on top of the VWAP and a down trendline. The RSI has recovered to the mid-40s, offering some relief. Bulls will probably need to see a sustained reclaim of the 5,000 level to signal the downtrend is losing momentum. Brent Crude continues inside a triangle pattern as price makes higher lows towards the double top formed at 120. The RSI sits in the low 60s, consistent with healthy momentum after the surge a month ago. Price is consolidating within the upper half of the recent range. A breakout higher from the triangle would target new highs, while a break of VWAP support would put the bullish thesis under pressure.