Gold: Consolidation Continues Near $4,000 Support
Gold experienced an initial dip during the session before buyers stepped in, recovering prices back toward the opening level. The market remains in a holding pattern, with price action moving sideways while pinned between the $4,000 support floor and the descending trend line. For now, this range-bound consolidation looks set to persist near $4,000 until a clearer directional catalyst emerges.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,380, $4,500, $4,546
Silver: Price Action Settles Into Sideways Range
Mirroring the behavior seen in Gold, Silver continues to trade sideways as momentum remains subdued following its earlier trendline break. Price action is fluctuating within a tight boundary, pointing toward ongoing consolidation across current levels. Without a fresh push to establish a higher swing high, the market appears content to chop sideways in the near term.
Today’s critical level to watch:
Support: $54.00, $50.00
Resistance: $64.00, $70.00, $80.00, $83.91, $85.00, $100.00, $120.00
Crude Oil: Trend line Rejection Keeps Trading Range Intact
Crude oil opened lower following another clear rejection at its descending trend line, cutting short its recent recovery attempt. This pullback keeps the broader bearish structure intact and defines the current boundary for price action. For now, the primary trading zone sits squarely between the $77.13 support floor and the overhead trend line resistance.
Today’s critical level to watch:
Support: $77.13, $70.00, $67.20
Resistance: $80.00, $85.00, $90.00, $95.00