Weekly Technical Outlook Summary

Author: Michael Boutros, Sr. Technical Strategist

Date: February 23, 2026

Overview

This article provides a technical analysis of key financial instruments including the US Dollar, commodities like gold and oil, and major equity indices. The analysis focuses on critical price levels and potential market movements as the week begins.

US Dollar (DXY) Analysis

The US Dollar Index (DXY) faced resistance at 97.88/99, a significant level defined by various technical indicators. A daily close above this level is necessary to initiate a bullish trend towards the yearly open at 98.24. Conversely, support is found at 97.11/19, with a break below this level indicating a potential reversal in the current uptrend.

Oil (WTI) Price Analysis

WTI crude oil prices are testing pivotal resistance at the monthly range high. A breakout above 67.86 could signal further gains, while support is established at 65.74. A drop below this level would invalidate the bullish outlook. The geopolitical situation, particularly regarding Iran, may influence oil prices significantly this week.

Key Economic Events

Upcoming events include the Australia CPI report and President Trump’s State of the Union address, which may provide insights into future economic policies. Additionally, the US Producer Price Index (PPI) is scheduled for release, which traders will monitor closely for market direction.

Conclusion

As the week progresses, traders should remain vigilant of the technical levels outlined for the US Dollar and oil prices. The outcomes of the upcoming economic events could significantly impact market sentiment and price movements.