Daily Oil, Gold, Silver Technical Analysis - Tuesday, June 30

Gold stays near $4,000

Gold bears launched another attack on the $4,000 support level today. The price briefly printed a new lower low. However, buyers quickly stepped in. The price is recovering well. Gold will likely maintain a daily close above the $4,000 mark. Bulls need to secure control of this level. If they succeed, an upward bounce could follow. The primary targets for this bounce are $4,250 and the descending trend line.

Today’s critical levels to watch:

Support: $4,000

Resistance: $4,250, $4,380, $4,500, $4,546

Silver absorbs selling pressure

Silver experienced another bearish attempt early in the trading session, but the downward momentum stalled as the selling volume seemed fully absorbed by buyers near the recent lows. The market is now showing strong signs of intraday stabilization. Looking to the upside, if a broader bullish correction begins to materialize from this consolidated area, the immediate recovery targets are set at the $64.00 and $70.00 resistance zones. Traders will be watching closely to see if the bulls can generate enough sustained buying volume to test these higher levels.

Today’s critical level to watch:

Support: $54.00, $50.00

Resistance: $64.00, $70.00, $80.00, $83.91, $85.00, $100.00, $120.00

Crude oil stabilizes amid geopolitical watch

Crude oil remains mostly stable today, pausing its recent downward extension and hovering tightly near the $70.00 threshold. The technical price action is currently subdued as market participants temporarily step to the sidelines, leading to a much narrower trading range. For now, the broader energy market is in a fundamental holding pattern, with traders closely observing the ongoing U.S.-Iran negotiations. The market is waiting for clarity on these geopolitical developments before committing to a strong directional bias, leaving the commodity to consolidate near this pivotal $70.00 zone in the interim.

Today’s critical level to watch:

Support: $70.00

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