Gold: Nearing the Daily SMA 200
Gold is making a steady upward movement today, steadily approaching the daily SMA 200 as well as the critical $4,546 resistance level. Holding above the recent 61.8% Fibonacci retracement bounce keeps the immediate bullish momentum well-intact. We maintain our upside target within the green box area highlighted on the chart. For risk management, traders could consider placing stop-loss orders below the latest swing low or just beneath the $4,250 support level.
Today’s critical levels to watch:
Support: $4,380, $4,250, $4,000
Resistance: $4,500, $4,546, $4,700
Silver: Erasing Previous Bearish Drops
Silver is mirroring gold’s positive price action, having successfully erased the bearish candlestick drop from two days ago. As long as buyers continue to defend the $64.00 support zone, the market structure remains tilted toward potential upside expansion. We are watching $70.00 as the nearest resistance target. A decisive breakout from the current $64.00 – $70.00 consolidation range will be required to confirm a continuation of the broader bullish move.
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: Monitoring Near-Term Price Reactions
Crude oil made another bullish attempt today, but buyers ultimately failed to print a new higher swing high. Price continues to hover near elevated levels, suggesting that while bulls maintain overall control, immediate upward momentum has temporarily stalled. A daily close above $93.48 remains the key confirmation needed for a bullish trend extension, whereas failure to break higher could prompt a minor pull back toward $90.00 support. We will continue monitoring price reactions closely near the current level.
Today’s critical level to watch:
Support: $85.00, $80.00, $77.13, $70.00, $67.20
Resistance: $90.00, $95.00