Gold capped below $4,546
Gold prices faced renewed selling pressure today, remaining strictly capped below the $4,546 resistance level. The yellow metal is currently printing around $4,482.94, reflecting a short-term shifting of momentum in favor of market bears. If price action fails to stabilize and continues to push lower, the daily SMA 200 will serve as the ultimate line of defense and the most critical macro level for position traders to watch.
Today’s critical levels to watch:
Support: $4,500, $4,380
Resistance: $4,546, $5,000, $5,200, $5,500
Silver trade near trend line
Silver continues to exhibit a highly tense technical setup, sticking precariously close to its primary ascending trend line while sellers actively poke below it. The near-term trajectory for the white metal remains finely balanced, hanging on a critical directional question: will buyers step in to force a strong bullish rejection and spark a retest of the $80.00 horizontal milestone, or will the bears break the structural line to target a deeper slide toward the $70.00 psychological floor?
Today’s critical level to watch:
Support: $70.00, $54.00, $50.00
Resistance: $80.00, $83.91, $85.00, $100.00, $120.00
Crude oil return above $90.00
Bullish pressure returned to the energy sector with a vengeance today, driving crude oil back above the pivotal $90.00 handle. High volatility situation is expected to persist as Iran-U.S. negotiations continue to move back and forth without reaching a concrete agreement. Looking at the broader macro picture, crude oil appears comfortably confined within a wide trading bracket between $85.00 and $110.00, and will likely remain bound by these markers until a major fundamental event triggers a definitive breakout.
Today’s critical level to watch:
Support: $90.00, $85.00, $80.00, $77.13
Resistance: $95.00, $100.00, $110.00