Gold bullish attempt

Gold is staging another bullish attempt ahead of the employment data release. Following the recent triangle breakout, the focus is squarely on whether the metal can maintain its upward momentum. A sustained move higher would confirm the bullish continuation, while a reversal that sees the price fall below the $4,546 level and back under the trendline would signal a failed breakout and a resumption of the broader bearish trend.

Today’s critical levels to watch:

Support: $4,546, $4,500, $4,380

Resistance: $5,000, $5,200, $5,500

Silver stick near $80.00

Silver continues to exert pressure on the critical $80.00 psychological level. The price is currently hovering right at this resistance level, making the daily close of paramount importance. A firm close above this level would provide the necessary confirmation for a bullish breakout, potentially leading to a test of higher swing highs. Conversely, a rejection at this level by the end of the day would suggest that the bulls are not yet ready to drive the trend higher.

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 bearish pressure

Crude Oil is trading slightly lower today, currently hovering near the $95.00 mark. Despite the minor softening in price, the overall technical situation remains unchanged. The market is largely in a holding pattern; a decisive close below the $90.00 level is required to confirm a bearish shift. Until such a move occurs, the energy sector is expected to continue its current phase of consolidation.

Today’s critical level to watch:

Support: $95.00, $90.00, $85.00, $80.00, $77.13

Resistance: $100.00, $110.00