Gold: Strong Bounce Off $4,000 Support Sets Up Retest of Broken Area
Gold produced a firm bullish bounce reaction from the $4,000.00 ($4,018.60) psychological support handle, driving prices strongly upward during today’s session. The recovery could extend higher to retest the green box area ($4,110 – $4,170), which now acts as major resistance. The overall technical structure remains bearish, meaning any continued upward retracement will be treated as an opportunity for traders to look for short entries at higher levels. If sellers reassert dominance, a break below $4,000.00 will re-open downside targets toward $3,834.29.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,350, $4,500, $4,546, $4,700
Silver: Recovers Above Opening Level near $54.00; Bears Eye Shorting Opportunities
Silver initially pushed lower during intraday trading but managed a recovery to push back above its opening price. Price action is currently hovering near the $54.00 support mark. If upward continuation develops from this temporary stabilization, traders will monitor higher resistance levels to enter short positions aligned with the primary downward trend. Should the bearish leg resume immediately, a breakdown below $54.00 will point toward $50.00 and the primary trendline support.
Today’s critical level to watch:
Support: $54.00, $50.00
Resistance: $59.00, $64.00, $70.00, $80.00
Crude Oil: Maintains Position Near $100.00 as Bullish Trend Persists
Crude oil experienced minor weakness today, but price action comfortably maintained its position near the key $100.00 ($100.29) level. The overall bullish environment remains completely intact with no structural changes. Should crude oil retrace further lower in a secondary pullback, the major ascending trendline will serve as the principal support boundary to watch for buyers to re-emerge and target new swing highs.
Today’s critical level to watch:
Support: $100.00, $95.00, $90.00, $85.00, $80.00
Resistance: $110.00