Gold remains squeezed between $4,000 support and trendline
Gold continues to trade in a narrow corridor, staying sandwiched between the $4,000 psychological support floor and its major descending trend line resistance. Price action remains in a holding pattern as traders await a decisive breakout from either boundary to signal the next macro leg. The prevailing technical bias continues to favor a bearish scenario, where a clean breakdown below $4,000 would pave the way for a fresh move lower toward new swing lows.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,380, $4,500, $4,546
Silver retraced to opening level
Silver mounted another upward attempt during the session, but buying momentum quickly waned, dragging the price back down near its daily opening level. This failure to hold intraday gains keeps the overall chart structure constrained under selling pressure. If bearish momentum resumes from current levels, the price might continue lower to target $54.00 and $50.00.
Today’s critical level to watch:
Support: $54.00, $50.00
Resistance: $64.00, $70.00, $80.00, $83.91, $85.00, $100.00, $120.00
Crude oil rebounds to retest $85.00 level and descending trend line
Following its quick bounce off the $77.13 floor, crude oil has steadily gained ground and is now back up testing the major descending trend line and the $85.00 resistance level. The market faces a crucial technical junction: a clean breakout above this dual-resistance barrier could re-ignite bullish momentum toward the top of the $85.00 – $95.00 range. Conversely, a firm rejection here could send the commodity lower to retest or break below $77.13.
Today’s critical level to watch:
Support: $80.00, $77.13, $70.00, $67.20
Resistance: $85.00, $90.00, $95.00