Gold: Recovers From Lows as Bears Maintain Control
Gold initially dropped during the session before recovering back toward its opening levels. While short-term bearish pressure remains intact, buyers are attempting to step in and resist further selling. The price action suggests a potential battle between bears attempting to maintain control and bulls defending lower levels.
Today’s critical levels to watch:
Support: $4,546, $4,500, $4,380, $4,250, $4,000
Resistance: $4,700
Silver: Faces Downside Pressure with $64.00 as Key Support Target
Similar to Gold, Silver experienced selling pressure that pulled prices lower from recent resistance. If bearish continuation resumes in the upcoming sessions, the $64.00 horizontal level represents the key structural support line to monitor for potential buyer defense or a trend reversal.
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: Breaks Out Above Symmetrical Triangle and Holds Above $85.00
Crude oil has completed a bullish breakout above the upper trendline of its daily symmetrical triangle, pushing the price above $85.00. If buyers can build on this momentum and print a new higher swing high, it would confirm a solid continuation of the broader bullish trend toward higher targets.
Today’s critical level to watch:
Support: $85.00, $80.00, $77.13, $70.00, $67.20
Resistance: $90.00, $95.00