Gold: Breaks Below Green Box Support as Bears Maintain Control
Gold came under renewed bearish pressure, breaking below the green box support area ($4,110 – $4,170). However, price action has not yet printed a new lower swing low below prior key structures. Bears remain in full control of short-term momentum for now, and traders will observe market reactions over the coming sessions to see whether selling pressure continues down toward the $4,000.00 ($4,018.60) level or if a bullish reversal attempt materializes from current levels.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,350, $4,500, $4,546, $4,700
Silver: Major Dump Invalidates Bullish Setup, Approaching Summer Lows
Silver suffered a major downward sell-off today, with bears firmly showing their hand. The recent bullish scenario appears void for now as prices slide toward the June–July lows. Printing a new lower swing low would confirm that the current bearish trend is set to persist for a while, shifting the market focus toward deeper downside targets.
Today’s critical level to watch:
Support: $54.00, $50.00
Resistance: $59.00, $64.00, $70.00, $80.00
Crude Oil: Continues Upward Momentum, Testing $95.00 Resistance
Crude oil continues to gain ground, recording a new higher high, though price expansion appears somewhat limited as it approaches the $95.00 ($94.72) resistance mark. Barring any major market shift, crude oil is poised to maintain its upward trajectory toward $100.00 ($100.29). On the downside, should short-term profit-taking kick in, another retest of the major ascending trendline could unfold.
Today’s critical level to watch:
Support: $90.00, $85.00, $80.00
Resistance: $95.00, $100.00, $110.00