Gold: Eyes Potential Bearish Correction After Swing High
While the broader structure retains clear bullish intention, gold is showing signs of a short-term bearish correction after falling below the previous day’s low, threatening to print a daily swing high. If selling pressure builds, the $4,546 level alongside the daily SMA 200 will serve as the first major line of support. A deeper retracement would shift attention toward the broken prior high zone around $4,414 – $4,440.
Today’s critical levels to watch:
Support: $4,546, $4,500, $4,380, $4,250, $4,000
Resistance: $4,700
Silver: Capped at $70.00 Resistance Zone
Silver’s upward advance stalled near the key $70.00 cap, with price action shifting lower toward short-term consolidation. If buyers regain control and push higher, the upper descending trendline remains the primary target to test. On the downside, the $64.00 breakout level is expected to continue functioning as robust horizontal support.
Today’s critical level to watch:
Support: $64.00, $54.00, $50.00
Resistance: $70.00, $80.00, $83.91, $85.00, $100.00, $120.00
Crude Oil: Coiling Inside Symmetrical Triangle Pattern
Crude oil price action has been refined into an adjusted triangle structure, reflecting ongoing price compression between converging trendlines. As price coils within this narrowing range, momentum remains neutral. Traders are awaiting a decisive daily breakout above resistance or below support to establish the market’s next directional trend.
Today’s critical level to watch:
Support: $85.00, $80.00, $77.13, $70.00, $67.20
Resistance: $90.00, $95.00