Today Technical Analysis: Gold prices rebound as the precious metal nears $4,200 level

Gold Technical Analysis

Gold is maintaining a bullish short-term bias, trading around $4,185 after recovering from the $4,110 low. Price is above all three moving averages MA(5), MA(10), and MA(20), with the MA5 at around $4,178 and the MA10/MA20 clustered near $4,166–$4,168.

Immediate resistance is around $4,196, followed by $4,246. Support is around $4,168, followed by $4,145 and the recent low near $4,111.

The moving averages are turning upward and price is holding above them, supporting the recovery. A break above $4,196 could strengthen the bullish momentum, while a move back below $4,168 would weaken the setup.

Gold 1H Chart

Source: STARTRADER app | Gold rebounds following cooler inflation data as it nears $4,200

Brent Technical Analysis

Brent is showing a short-term recovery, trading around $103.67 after rebounding from the $100.71 low. Price has moved back above the moving average MA10 and is testing the MA20 around $103.38.

Immediate resistance is around $103.98–$104.00, followed by $105.92 and the recent high at $107.25. Support is around $103.00, followed by $102.05 and $100.71.

The latest bullish candle suggests renewed buying interest, but Brent needs to break above $104 to confirm a stronger recovery. A rejection around this level could send prices back toward $102.

Brent 1H Chart

Source: STARTRADER app | Crude brent moves sideways, but prices remain elevated above $100

Nasdaq Technical Analysis

Nasdaq 100 is showing strong bullish momentum, trading around 30,816 after breaking decisively above the 30,760 area. Price is well above the three moving averages MA5, MA10 and MA20, confirming strong short-term momentum.

Immediate resistance is at the recent high of 30,924, followed by the psychological 31,000 level. Support is around 30,760, followed by 30,600.

The sharp rally and elevated buying volume support the bullish structure, although the move is becoming somewhat extended. A sustained break above 30,924–31,000 could open the way for further gains, while a pullback below 30,760 would signal some loss of momentum.

Nasdaq 1H Chart

Source: STARTRADER app | Nasdaq 100 breaks a new record high driving by AI optimism

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.