Gold gaps up but struggles to clear the descending trend line
Gold opened with a bullish gap today but has largely remained pinned near its major descending trend line. The market has yet to confirm a decisive breakout, leaving traders questioning the next directional move. Price action will either face another rejection to break cleanly below the $4,000 psychological support, or it will finally shatter the trend line resistance to halt the overarching downtrend.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,380, $4,500, $4,546
Silver surrenders early gains to hover near opening level
Silver attempted an upward push early in today’s session but has since retreated to trade near its daily opening level. The technical landscape dictates that a daily close above $64.00 is required to neutralize the bearish momentum and shift the outlook to a sideways or bullish bias. Until that threshold is reclaimed, the prevailing downward trajectory remains intact, with $54.00 and $50.00 continuing to act as the primary downside targets.
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 gaps down sharply amid U.S.-Iran geopolitical pause
Crude oil experienced a sharp gap down, plunging back below the $85.00 level and the major trend line. This sudden drop was triggered by news that the U.S. and Iran temporarily paused military strikes to allow space for diplomatic talks. This geopolitical de-escalation eased immediate concerns regarding global oil supply disruptions, prompting a swift pullback in prices. With the commodity back under this critical resistance zone, the technical setup suggests a possible continuation toward the $77.13 support. However, the fundamental situation remains highly volatile; as attacks are currently only paused, any sudden resumption of hostilities could rapidly shift momentum back to the upside.
Today’s critical level to watch:
Support: $80.00, $77.13, $70.00, $67.20
Resistance: $85.00, $90.00, $95.00
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