Gold stick near $4,546

Gold closed with a strong bearish candle yesterday but is showing no meaningful follow-through today. Specifically, buyers have made a bullish attempt, but the recovery remains limited near the $4,546 level. Because the broader structure continues to favor the downside, we still expect the current support level to eventually give way and lead prices lower. However, if a strong bounce develops and the price prints a new higher swing high above $4,888, then the bearish structure would be invalidated. Therefore, traders should monitor price reactions at $4,546 very closely for the next directional clue.

Today’s critical levels to watch:

Support: $4,546, $4,500, $4,380

Resistance: $5,000, $5,200, $5,500

Silver waiting for trigger to move

Silver has turned lower again today but, similar to Gold, lacks strong bearish momentum at this stage. Specifically, the price continues to drift toward the key $70.00 support level, which remains the primary downside target. Because the $70.00 to $80.00 trading range remains firmly intact, the broader picture is one of consolidation rather than a clear trend. Therefore, traders will continue to wait patiently for a definitive breakout from that range before committing to new positions. A clean break below $70.00 would confirm bearish continuation, while a recovery above $80.00 would revive the bullish case.

Today’s critical level to watch:

Support: $70.00, $54.00, $50.00

Resistance: $80.00, $83.91, $85.00, $100.00, $120.00

Crude oil ranging

Crude oil is trading slightly lower during today’s session but remains inside yesterday’s wide-range candle. Specifically, price action is compressing as neither buyers nor sellers have taken decisive control. Because of this consolidation, a breakout in either direction appears imminent. If buyers prevail, the price could push higher once again to retest the recent swing high. On the other hand, if sellers reassert control, a lower swing high would be printed and bearish continuation becomes the more likely scenario. Therefore, traders are watching closely for the next clear directional signal.

On the bigger view, the price might range between $85.00 – $120.00. With upside potential depending on the Strait of Hormuz situation.

Today’s critical level to watch:

Support: $100.00, $95.00, $90.00, $85.00, $80.00, $77.13

Resistance: $110.00