Gold stall after support break
Gold prices extended their downward movement and nearly reached the $4,250 level. The price staged a recovery and is currently trading near the opening level. Traders are weighing the possibility of an immediate continuation or a correction to retest the broken triangle pattern or the daily SMA 200 level. Overall, we expect the price to immediately continue the bearish movement as it has broken below major supports.
Today’s critical levels to watch:
Support: $4,500, $4,380
Resistance: $4,546, $5,000, $5,200, $5,500
Silver stay below $70.00
Silver broke and closed below the $70.00 level, confirming the intention to continue lower. If the price continues downward, the $54.00 and $50.00 levels are the primary targets to watch. A retest of the $70.00 level remains possible where traders could use it as chance to enter short positions.
Today’s critical level to watch:
Support: $54.00, $50.00
Resistance: $70.00, $80.00, $83.91, $85.00, $100.00, $120.00
Crude oil more volatility
Crude oil volatility surged as tensions between Iran and Israel reignited. Following a missile exchange on June 7–8, where Israel struck targets in Iran and Iran retaliated with missile barrages, markets reacted sharply to concerns over potential supply disruptions. Prices spiked above $95.00 but pared gains after Iran announced a suspension of military operations and U.S. President Donald Trump urged restraint. Despite the current pause, the market remains anxious about the security of the Strait of Hormuz, a critical transit route for global energy supplies. A trading range is currently established between $90.00 and $95.00.
Today’s critical level to watch:
Support: $90.00, $85.00, $80.00, $77.13
Resistance: $95.00, $100.00, $110.00