Today Technical Analysis: Gold rebounds back above $4,000 support following yesterday’s decline

Gold Technical Analysis

Gold is attempting a modest recovery after bouncing from the $3,983 support area. Price has reclaimed the 5 and 10-period moving averages and is testing the 20-period moving average, indicating improving short-term momentum. However, the broader trend remains cautious until buyers establish a series of higher highs.

Immediate resistance is located around $4,030–$4,040, followed by $4,080. Support is seen at $4,000, with stronger support near $3,983. A break above the 20-period moving average could strengthen the recovery, while a move back below $4,000 would place the recent lows back into focus.

Gold 1H Chart

Source: STARTRADER app | Gold bounces back above $4,000 recovering from yesterday's selling

Brent Technical Analysis

Brent crude remains in a strong bullish trend, extending its rally to $85.66. Price continues to trade well above the 5, 10, and 20-period moving averages, confirming strong buying momentum. The recent consolidation below the highs appears to be healthy profit-taking rather than a trend reversal.

Immediate resistance stands at $85.66, followed by the psychological $86.00 level. Initial support is located around $84.80, while stronger support is found near $83.00, close to the 20-period moving average. As long as price remains above these levels, the overall trend favors further gains.

Brent 1H Chart

Source: STARTRADER app | Oil prices continue higher as tensions in the Middle East remain

Nasdaq 100 Technical Analysis

The Nasdaq-100 is attempting to recover after finding support near 29,100, with price climbing back above the 5 and 10-period moving averages. However, the index continues to trade below the 20-period moving average, suggesting the broader short-term trend remains neutral to slightly bearish. Momentum has improved, but buyers need a stronger breakout to confirm a trend reversal.

Immediate resistance is located around 29,450–29,650, followed by the recent high at 29,880. Support is seen at 29,300, with stronger support near 29,100. A break above the MA20 could trigger further upside, while a move below 29,300 would shift momentum back in favor of sellers.

Nasdaq 100 1H Chart

Source: STARTRADER app | US indices attempt to recover after starting the week on a decline

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.