Gold continues to pressure critical support
Gold bears are mounting another aggressive attack on the $4,000 handle. The selling pressure continues to build against the bulls, suggesting that a major, definitive breakdown below this critical support level could be imminent. Until a confirmed breakout occurs, the market will likely remain in a state of volatile consolidation. Conversely, if buyers suddenly step in and manage to push the price back above the descending trend line, the broader market sentiment could shift away from the current bearish dominance.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,380, $4,500, $4,546
Silver sustains bearish momentum
Silver is currently trading near its recent swing low, firmly on a bearish continuation leg toward the primary downward targets of $54.00 and $50.00. The broader bearish scenario remains completely unchanged. At this stage, the market structure heavily favors sellers, and any minor upward bounces are viewed strictly as temporary corrective moves within the dominant downtrend.
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 pauses within recent range
Crude oil is displaying slight intraday weakness today, with price action remaining mostly contained inside yesterday’s trading range. Despite this minor consolidation, the overall bullish structure remains intact. If the commodity resumes its upward momentum, it is on track to target the broader $85.00 – $95.00 area. On the downside, buyers will look to defend the $77.13 mark, which continues to act as a firm and immediate support level.
Today’s critical level to watch:
Support: $77.13, $70.00, $67.20
Resistance: $80.00, $85.00, $90.00, $95.00