Daily Technical Analysis: Gold starts the week strong rising above $4,180

Gold Technical Analysis

Gold is trading at $4,170. Following a recovery from the recent low of $4,073, the precious metal advanced toward $4,198. but has since struggled to make further progress. Price is currently moving sideways, around $4,170–$4,180, suggesting a balance between buyers and sellers after the earlier rebound.

The short-term moving averages MA(5) and MA(10) are clustered together, indicating weak directional momentum and a lack of clear trend confirmation.Immediate support lies around $4,165–$4,160, followed by $4,136 and the recent low at $4,073. Resistance is located around $4,177–$4,180, followed by $4,198. and the psychological $4,200 level. A sustained break above $4,200 could open the way toward higher resistance, while a move below $4,160 would increase the risk of a retest of $4,136. Overall, the short-term outlook is neutral, with a slight bearish bias while gold remains below $4,200. A decisive breakout from the current range is needed to establish the next directional move.

Gold 1H Chart

Source: STARTRADER app | Gold moves sideways, but prices remain above $4,100

Brent Technical Analysis

Brent crude is trading at $110.10. The decline from the recent peak suggests that selling pressure remains present near higher levels.

The moving averages indicate that the recovery is progressing,. Price is above the MA5 and MA10 but remains just below the MA20. The shorter averages are positioned above the MA10, suggesting improving momentum, while the MA20 represents an immediate barrier that buyers need to overcome.

Support is located around $109.5–$109.00, followed by $108.00 and the recent low at $105.877. Resistance lies around $110.20–$111.00, followed by $112.26. A sustained move above $110.20–$111.00 would strengthen the recovery and potentially trigger another test of $112.26. However, rejection near the MA20 and a break below $109.00 would increase the risk of a deeper correction. Overall, the outlook is neutral to cautiously bullish as long as Brent holds above $109.00, although the sharp daily decline shown in the quote highlights the current volatility.

Brent 1H Chart

Source: STARTRADER app | Crude brent rebounds after opening lower for the week

EURUSD Technical Analysis

EURUSD is trading at 1.1225. After recovering from the recent low of 1.1112, the pair advanced toward 1.1268 before losing momentum and moving into consolidation.

Immediate support lies around 1.1210–1.1190, followed by 1.1144 and the recent low at 1.1112. On the upside, resistance is located around 1.1237, followed by 1.126 and 1.1283. A sustained break above 1.1237 could open the way toward 1.1269, while a move above that level would strengthen the bullish outlook. Conversely, a break below 1.1190 would weaken the recovery and expose lower support levels. Overall, the short-term outlook is neutral, with a slight bullish bias while price holds above 1.1190.

EURUSD 1H Chart

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