Gold: Tests Upper Boundary of Support before Reversing Lower
Gold initially pushed higher, attempting to trade above the green box support area. However, the move lacked continuation as prices reversed to slide back inside the zone, signaling that sellers remain in firm control. With bearish momentum intact, another push toward the lower boundary of the support area is possible as market participants monitor reactions closely.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,350, $4,500, $4,546, $4,700
Silver: Pressured Downward toward the $60.00 Handle
Silver faced persistent selling pressure that dragged prices down to test the $60.00 psychological level. Price action is now hovering right around the $59.00 to $60.00 demand zone. Traders are standing by to observe price behavior here; if strong bullish reversal reactions materialize, it could present an opportunity to initiate long positions
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: Consolidates Near $90.00 with Subdued Momentum
Crude oil continues to trade sideways right near the $90.00 psychological level, displaying very little bullish traction during the session. Without buyers stepping in to defend the level with conviction, the path of least resistance points toward a potential extension lower to test the ascending trendline. Observation of price reactions around the current range remains key before plotting the next directional bias.
Today’s critical level to watch:
Support: $95.00, $90.00, $85.00, $80.00
Resistance: $100.00, $110.00