Gold: Turns Lower Post-FOMC, Tests Crucial $4,250 Level
Gold turned lower following the FOMC meeting, pulling back to test the critical $4,250.00 support level without registering a confirmed breakout yet. If bearish momentum continues to press downward, a breakdown could materialize and extend the decline toward the $4,150.00 – $4,165.00 target area (near $4,142.30). However, because the broader chart structure recently printed a higher swing high, this corrective movement is expected to form a higher swing low—potentially around $4,250.00 or within the $4,150.00 – $4,165.00 zone. The bullish macro outlook remains valid unless sellers push prices into a lower swing low below the $3,943.29 invalidation level.
Today’s critical levels to watch:
Support: $4,250, $4,000
Resistance: $4,350, $4,500, $4,546, $4,700
Silver: Pressured below $64.00 zone
Silver remains under bearish pressure, though price action has yet to achieve a clean downward breakout. The market is attempting to absorb the selling interest while staying not too far from $64.00 level. Should downside pressure persist and break through current support, attention will shift toward the $60.00 – $60.86 region ($59.27) as the next major focal point for potential buyers.
Today’s critical level to watch:
Support: $64.00, $54.00, $50.00
Resistance: $70.00, $80.00, $83.91, $85.00, $100.00, $120.00
Crude Oil: Pulls Back Post-High, Holds Above $100.00
Crude oil pulled back following yesterday’s new higher high, with price action dominated by strong U.S. dollar momentum. Despite today’s corrective pressure, WTI crude continues to maintain its footing above the key $100.00 mark ($100.29). If short-term selling continues, the $95.00 level ($94.72) and the previously broken swing high will serve as the primary targets to watch for a corrective retest.
Today’s critical level to watch:
Support: $100.00, $95.00, $90.00, $85.00, $80.00
Resistance: $110.00