Gold: Extends Bullish Rebound, Tests Recent Highs
Gold is extending its upward momentum today following yesterday’s strong bullish close. Price action is pressing higher and currently testing short-term peak levels near $4,390. If this new bullish leg gathers further momentum, upward pressure could drive prices toward the daily SMA 200 and the major resistance target at $4,546.52. Conversely, if bears step back in and regain control, gold could undergo a corrective pullback to retest the key $4,250.00 support level.
Today’s critical levels to watch:
Support: $4,350, $4,250, $4,000
Resistance: $4,500, $4,546, $4,700
Silver: Gains Ground Within $64.00 – $70.00 Range
Silver is advancing today, looking higher to retest its previous swing high near $68.51. Despite the positive intraday bounce, there is no formal confirmation yet of a bullish trend reversal, as price action remains firmly bound within the broader $64.00 – $70.00 range. Consolidation continues to dominate the technical picture, and a clear breakout beyond either boundary of this range will be needed to confirm the next sustained direction.
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: Bearish Pressure Mounts at $100.00 Handle
Crude oil is facing mounting bearish pressure around the $100.00 psychological level ($100.29). Market focus centers on whether sellers will succeed in pushing prices further below this threshold to initiate a deeper corrective leg. A continued downside expansion would target the $95.00 support region ($94.72) and the previously broken swing high for a formal retest.
Today’s critical level to watch:
Support: $100.00, $95.00, $90.00, $85.00, $80.00
Resistance: $110.00