Gold pressuring $4,546

Gold continues to face more bearish pressure right at the critical $4,546 support level. As a result, the precious metal is currently struggling to find solid footing. If the selling pressure successfully gains additional momentum, the picture turns even more negative. Consequently, we will easily see a bearish continuation develop in the coming sessions. Therefore, sellers will likely target the next major support zone at $4,250. Furthermore, traders should remain cautious as the broader trend remains heavily tilted to the downside.

Today’s critical levels to watch:

Support: $4,546, $4,500, $4,380

Resistance: $5,000, $5,200, $5,500

Silver moving toward $70.00

Silver is moving steadily closer to the major $70.00 support level. As we mentioned previously, this floor is absolutely critical for the metal’s overall structure. Specifically, a decisive breakout below this support level would change everything. Consequently, that bearish breakdown will open the chance to target the deeper $54.00 and $50.00 zones. Therefore, traders should watch this level closely for the next major signal. A strong bounce, on the other hand, could trigger a temporary recovery.

Today’s critical level to watch:

Support: $70.00, $54.00, $50.00

Resistance: $80.00, $83.91, $85.00, $100.00, $120.00

Crude oil sharply higher

Crude oil surged sharply higher during today’s trading session. Specifically, this powerful rally happened after a new threat by Trump aimed directly at Iran. Because of this sudden geopolitical escalation, supply concerns immediately returned to the energy market. As a result, buyers aggressively pushed the price upward with strong momentum. If the bullish pressure continues to build, the rally has plenty of room to run. Consequently, the recent swing high becomes the primary upside target. Therefore, traders should expect further volatility as the situation develops.

Today’s critical level to watch:

Support: $100.00,, $95.00, $90.00, $85.00, $80.00, $77.13

Resistance: $110.00