Gold: Bullish Breakout Targets $4,500
Gold has staged a major bullish breakout following its recent consolidation phase, successfully pushing prices up to test the $4,250 resistance level. With momentum shifting decisively back in favor of the buyers, the market may see a minor, short-term correction before resuming its climb. The broader technical outlook now looks toward the daily SMA 200 and the $4,500 psychological barrier as the next major upside targets.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,380, $4,500, $4,546
Silver: Momentum Builds Toward $64.00 Resistance
Mirroring Gold’s strength, Silver is exhibiting robust bullish momentum and is trading within striking distance of the key $64.00 level. A decisive daily close above this threshold, accompanied by a new higher swing high, will provide structural confirmation that the medium-term trend has officially flipped back to bullish.
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: Bears Maintain Control Below $77.13
Crude oil remains under heavy selling pressure after closing firmly below the $77.13 mark. A recent recovery attempt lost steam before reaching the broken support level, resulting in a swift rejection back toward the opening range. The bearish trend remains fully intact, with sellers driving the market downward toward the lower ascending trend line.
Today’s critical level to watch:
Support: $70.00, $67.20
Resistance: $77.13, $80.00, $85.00, $90.00, $95.00