Gold: Tests $4,000 Support Zone as Bears Maintain Pressure
Gold extended its downward trajectory below the green box support area ($4,110 – $4,170), pushing directly to test the key $4,000.00 ($4,018.60) psychological handle. Price action has shown no significant bullish reaction at this boundary yet, indicating that sellers remain firmly in control. If bearish momentum continues, it could trigger a liquidity sweep below $4,000.00 and the previous swing low. In that scenario, the $3,834.29 Fibonacci extension level will serve as the next major downside target to watch. On the upside, the former green box support zone ($4,110 – $4,170) is expected to act as immediate dynamic resistance.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,350, $4,500, $4,546, $4,700
Silver: Prints New Lower Swing Low at $54.00 Level
Silver printed a fresh lower swing low, pushing further into bearish territory to reach the $54.00 support level. Given the strong momentum behind this sell-off, a wait-and-see approach is recommended until clear signs of price stabilization or bullish reversal patterns emerge. Should the downward move extend below $54.00, market focus will shift toward the $50.00 psychological support mark as the next logical area of interest.
Today’s critical level to watch:
Support: $54.00, $50.00
Resistance: $59.00, $64.00, $70.00, $80.00
Crude Oil: Upward Direction Maintained as Dips Attract Buyers
Crude oil continues its steady march upward, with buyers stepping in to absorb every minor bearish correction. Price action remains well-supported above broken resistance structures and is hovering near the $103.00 level. The primary ascending trendline remains the crucial major support line anchoring the broader bullish structure. As long as prices stay above the trendline and the $95.00 mark, the path of least resistance points toward further gains targeting $105.00 and $107.38.
Today’s critical level to watch:
Support: $100.00, $95.00, $90.00, $85.00, $80.00
Resistance: $110.00
Source: Original Article
