Gold flat and waiting for breakout

Gold spent the day trading mostly inside the previous day’s range, showing that bullish momentum has paused despite the strong drop in the U.S. dollar index. Buyers are still present, but they are not pushing aggressively yet, likely due to caution ahead of next week’s FOMC meeting. The trend remains bullish, but today’s flat movement signals temporary indecision. As long as price stays above $4,000, the broader structure continues to favor upside.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver mild movement, no follow-through

Silver prices also traded quietly today, with price moving up and down in small range. Even though the underlying trend remains bullish, today’s lack of follow-through suggests a short pause in momentum after several strong upward days. As long as price holds above $54.40 and especially $50.00, the bullish structure remains intact. We think the price will continue the upward movement and reach $59.40 also $60.00 soon.

Today’s critical levels to watch:

Support: $55.00, $50.00

Resistance:

Crude oil, still locked in a tight range

Crude oil continues to trade inside the same consolidation zone between $57.60 – $60.00. Even with today’s broad U.S. dollar weakness, the commodity showed no significant reaction and remains directionless. This range remains the key to the next move. A break below $57.60 will confirm bearish continuation, while a close above $60.00–62.00 is needed to signal a stronger bullish recovery. Until either side breaks, the market is expected to continue moving sideways.

Despite the situation, we maintain bearish view, with the $54.50 – $55.00 area as bearish target.

Today’s critical level to watch:

Support: $57.60, $55.00, $54.50, $52.4

Resistance: $60.00, $65.00, $67.20, $70.00, $77.13