Gold faces renewed bearish pressure
Gold prices are back under heavy bearish pressure as sellers continue to attack the critical $4,000 support level. Recent upward bounces are becoming increasingly weak, signaling a significant drop in buying interest at this structural floor. This technical exhaustion suggests a potential breakdown below the key psychological level could materialize soon. If the bears manage to secure a decisive daily close below $4,000, it will likely trigger a rapid extension of the primary bearish trend.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,380, $4,500, $4,546
Silver resumes downward trajectory
Silver has also turned lower, aligning with the broader bearish momentum seen across the precious metals sector. The price action continues to heavily favor the bears, with sellers firmly targeting a drop toward the $54.00 and $50.00 support levels. On the upside, any unexpected recovery needs to clear major overhead barrier lines to change the immediate narrative. A clean daily close above the $64.00 mark remains the strict invalidation level for this bearish outlook.
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 gaps higher on Hormuz blockade
Crude oil started the trading week with a prominent upward price gap following news that President Trump has restarted the blockade in the Strait of Hormuz. Since the commodity has completely filled its previous downside gap, the price is now trending firmly upward under intense geopolitical tailwinds. Bulls are currently eyeing a decisive daily close above the $77.13 resistance mark. Securing a foothold above this level will provide the necessary confirmation for a sustained bullish continuation.
Today’s critical level to watch:
Support: $70.00, $67.20
Resistance: $77.13, $80.00, $85.00, $90.00, $95.00