Gold hits major support
Gold reached the significant $4,000 level, printing a new lower swing low and remaining firmly on a bearish track. While the price might stall near this current level, the broader expectation points to further downside. As long as there are no major bullish reactions, traders should anticipate extended weakness toward the $3,888 mark or the October 2025 low before any potential macro rally to new record highs begins.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,380, $4,500, $4,546
Silver approached $54.00
As previously mapped out, silver targeted the $54.00 and $50.00 levels following its decisive break below $70.00. The precious metal has already reached as low as $55.59, successfully fulfilling roughly 90% of the initial downside target. On the upside, a daily close above the $71.495 swing high is required to invalidate the current bearish trend. Looking lower, the $45.50 to $50.00 zone could serve as a key area to watch for institutional re-accumulation.
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 bears remain in full control
Crude oil experienced continued weakness today, touching the $70.00 level. Bears appear to be in absolute control of the market structure, despite the lack of a finalized, comprehensive agreement between the U.S. and Iran. Since peaking at $119 following the initial rally from $55, the commodity has retraced nearly 80% of that upward move. If momentum shifts and the price starts pointing upward again, the $80.00 to $85.00 area will act as major resistance. However, the immediate technical setup suggests the price might continue lower to close the existing chart gap around $67.80.
Today’s critical level to watch:
Support: $70.00
Resistance: $77.13, $80.00, $85.00, $90.00, $95.00