Gold bullish continuation

Gold continues to extend its bullish movement after the strong bounce from the $5,000 support level. The rebound confirmed that buyers are still actively defending the psychological level, allowing the price to resume its upward trajectory. After adjusting the trend line to reflect the latest price structure, the metal is currently moving inside an upward channel. As long as gold remains above the channel support, the bullish outlook remains intact, and the market could continue pushing toward higher resistance levels.

However, traders should remain cautious of a potential bearish breakdown. A strong close below the channel support would signal weakening bullish momentum and could open the door for a deeper correction. Until such confirmation appears, the broader bias remains bullish.

Today’s critical levels to watch:

Support: $5,000, $4,670, $4,546, $4,500, $4,380

Resistance: $5,200, $5,500

Silver moving upward

Silver is showing a similar structure to gold, continuing its upward movement after the sharp rebound earlier in the trend. The price is currently moving within an ascending structure, suggesting that buyers are maintaining control of the market. As long as the metal continues to trade above the rising trend line support, the bullish outlook remains valid. A continuation higher could bring silver toward the $100.00 resistance levels, with the market gradually building momentum.

Today’s critical level to watch:

Support: $83.91, $80.00, $70.00

Resistance: $85.00, $100.00, $120.00

Crude oil bearish pressure

Crude oil remains under bearish pressure after the sharp rejection from higher levels. The price is currently trading near the $85.00 area, where selling pressure has started to appear. Despite the weakness, the market has not yet printed a new lower low during the current session, suggesting that the decline may still be part of a consolidation phase rather than a confirmed downtrend. If bearish momentum increases, crude oil could move lower to test the $77.13 support levels. On the other hand, stabilization above the current range may allow the market to attempt another rebound toward the $90 & $95.00 resistance levels.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13, $70.00, $67.20

Resistance: $90.00, $95.00