Today Technical Analysis: Gold rises 1.3% despite higher energy prices

Gold Technical Analysis

Gold has completed a strong bullish recovery from the $4,000 region and broken above the former $4,100 resistance area. The short-term structure now shows higher highs and higher lows, confirming that buyers currently control the hourly trend.However, the price is testing an important supply area between approximately $4,137 and $4,150. Several same-day chart structures identify this region as a breakout and resistance zone, while the next stronger resistance cluster is located near $4,176–$4,180. The rally is therefore bullish but increasingly extended, which raises the probability of either consolidation or a short-term retest before another advance.An hourly close above $4,150 would support that buyers have cleared the current supply zone. This could extend the rally toward $4,176–$4,180. A sustained move above $4,180 would then expose the $4,190–$4,200 area. A rejection from $4,150 followed by an hourly close below $4,130 would indicate that the breakout is losing momentum.

Gold 1H Chart

Source: STARTRADER app | Gold jumps above $4,100 with clear bullish bias technically

Brent Technical Analysis

Brent has broken decisively above the psychological $90 level after closing Tuesday at $91.01. The latest advance confirms that the previous resistance zone has turned into short-term support, with geopolitical developments continuing to encourage buyers.

The current hourly structure remains bullish, but the market is approaching its first important test near the intraday high of $92.67. Above that level, the June swing area near $94.60 becomes the next major target. Momentum remains sensitive to headlines, meaning a ceasefire announcement or evidence that shipping routes remain operational could produce a rapid reversal.

An hourly close above $93.00 would support another breakout and could carry Brent toward $94.60. A break above $94.60 would place the broader $98.00–$98.40 supply zone in focus. The upper levels are supported by previous chart swing and supply areas.

A move below $91.30 would suggest that buyers are failing to hold the latest advance. Brent could then retest $90.00, which is the most important short-term breakout level. A sustained break below $90.00 would weaken the bullish structure and expose the recent $89.20 settlement region.

Brent 1H Chart

Source: STARTRADER app | Oil prices continue to advance higher on continued escalations

Nasdaq 100 Technical Analysis

Nasdaq-100 futures are attempting to stabilise following the recent technology-sector sell-off, but the short-term recovery has not yet developed into a confirmed trend reversal. The contract is trading close to the 29,200 support area after the rebound in semiconductor shares.

The index must first recover above approximately 29,300 to reduce immediate downside pressure. The stronger resistance area remains between 29,700 and 29,900, where recent recovery attempts have encountered supply. Until this zone is reclaimed, the current move should be treated as a recovery within a still-fragile structure rather than a confirmed new bullish trend.

Nasdaq 100 1H Chart

Source: STARTRADER app | US indices retreat on profit taking and market uncertainty

AUTHOR

Ghassan Albohtori 

Financial Market Analyst - STARTRADER

Ghassan Albohtori is a financial market analyst with experience in macroeconomics, investing, and currency trading. He conducts in-depth market research covering fundamental and technical analysis of different instruments to find major changes in market trends. Mr. Ghassan's main focus is the effects of economic data on different asset classes and how this affects prices.

Risk Disclaimer: This material is provided for informational purposes only and does not constitute a recommendation or investment advice. Trading financial instruments on margin involves substantial risk and may not be appropriate for all investors.