Today Technical Analysis: Gold falls below $4,100 and nears its yearly low as the USD pushes higher

Gold Technical Analysis

Gold remains under significant bearish pressure despite a modest rebound from the recent low at $4,050. The broader trend continues to favor sellers. Although buyers have managed to push prices slightly higher from support, gold remains below the 20-period moving average, keeping the overall short-term trend negative.

The market is attempting to build a short-term base, but confirmation of a meaningful reversal is still lacking. Until higher highs begin to form, the recovery should be viewed as a counter-trend bounce.

Gold remains bearish overall, but short-term selling momentum is beginning to ease. A sustained move above $4,118 could trigger a deeper recovery toward $4,150–$4,170. However, failure to break higher would likely attract renewed selling pressure, with a break below $4,050 exposing the key $4,000 psychological level.

Gold 1H Chart

Source: STARTRADER app | Gold remains under pressure as the US dollar pushes higher

Brent Technical Analysis

Brent crude remains in a strong downtrend. Price continues to print lower highs and lower lows, while all major moving averages are sloping downward and maintaining a bearish alignment.

The market recently recorded a fresh low at $76.04, confirming that sellers remain firmly in control. The inability of buyers to generate any meaningful rebound highlights the strength of the bearish momentum.

The decline from the $83.66 spike high has evolved into a well-defined bearish channel. Every recovery attempt has been rejected near the moving averages, which are acting as dynamic resistance.

The overall outlook remains bearish. As long as price remains below $77.60, rallies are likely to attract fresh selling pressure. A break below $76.04 could accelerate losses toward $75.50 and potentially $75.00.

Brent 1H Chart

Source: STARTRADER app | Oil nears its pre-war levels as brent falls to $76

S&P 500 Technical Analysis

The S&P 500 remains under short-term bearish pressure. Price remains below the declining 20-period moving average, suggesting that sellers still maintain control of the broader short-term trend.

The moving averages remain negatively aligned, with the MA20 positioned above the shorter-term averages. However, the MA5 and MA10 have begun flattening, indicating that downside momentum is slowing and a potential base is forming.

The recent selloff created a sequence of lower highs and lower lows. However, after reaching 7,365, buyers stepped in aggressively, preventing further downside extension.

The short-term bias remains cautiously bearish while below 7,460. A break above that level would signal stronger recovery potential toward 7,520–7,560. Conversely, a break below 7,365 would likely restart the downward move toward 7,300.

S&P 500 1H Chart

Source: STARTRADER app | US stocks sell-off from their record highs

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.