Daily Technical Analysis: Gold Breaks $3,400 Again On Rising Fears of Geopolitical Escalation
Gold is showing a strong uptrend from 3202.05 to 3438.08, followed by a sharp recent drop. Price is currently consolidating after breaking the short-term trendline.
Indicators:
Price broke below moving averages MA (5) and MA(10) with a clear bearish crossover and it’s now testing the moving average (30) indicating potential short-term weakness.
RSI (14) fell sharply from overbought to the neutral areas suggesting loss of bullish momentum.
Key Levels to watch for today’s movement are:
Support: 3360 and 3320
Resistance: 3438
If price breaks below the moving average 30 MA with RSI staying weak, we can expect deeper correction toward 3320. However, a bounce above 3385 with volume could ignite bullish momentum again.
Gold 1H Chart
| Resistance | $3,405 | $3,438 | $3,464 |
| Support | $3,360 | $3,351 | $3,330 |
USDJPY shows Downtrend from 145.90 to 142.35, but recently showing signs of a possible reversal with higher lows forming. Moving averages (5,10,30) start to show bullish reversal with upside crossover.
RSI rebounded strongly from oversold to above 50, indicating recovery starting
Key Levels to watch out for today are:
Support: 142.35
Resistance: 143.30 and 144.00
If price breaks and holds above 143.30, a rise is expected towards 143.70 levels.
Failure to break the moving average 30 might put pressure on price to retest 142.35
USDJPY 1H Chart
| Resistance | 143.32 | 143.54 | 143.93 |
| Support | 142.75 | 142.35 | 141.98 |
WTI (USOUSD) 1H Chart
Oil shows reversal from a strong downtrend, currently in a short-term uptrend with higher highs and higher lows. Price is above all MAs, confirming bullish momentum. RSI is holding it at around 60–65, signaling healthy bullishness without being overbought.
Key Levels to watch for today’s movement:
Support: 59.00
Resistance: 60.50 – 61.00
As long as price holds above 59.00 and moving averages remain supportive, oil could retest 61.00.
Dropping below 59.00 may ignite a move toward 57.80.
| Resistance | $59.85 | $60.18 | $60.42 |
| Support | $59.08 | $58.50 | $57.97 |
