Reuters technical analysis identifies key intraday support and resistance levels across major commodity markets, including oil, gold, copper, agricultural products and soft commodities.
Brent crude faces resistance at $100.50 and $102.22, while WTI has support levels at $90.65, $89.11 and $88.17; spot gold has resistance targets of $4,156 and $4,194.
These technical levels could guide near-term trading decisions, with breakouts or failures at key thresholds potentially intensifying commodity price volatility.
Bullish strength: 50/100
Brent has upside targets at $100.50 and $102.22.
WTI has upside targets at $91.90 and $93.14.
Gold has upside targets at $4,156 and $4,194.
Bearish strength: 50/100
Brent has support levels at $98.40, $97.71 and $95.99.
WTI has support levels at $90.65, $89.11 and $88.17.
Gold has support levels at $4,071, $4,056 and $4,033.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.
Gold and silver prices fell in early Asian trading on Dhanteras as a global equity sell-off and uncertainty over the Federal Reserve's interest-rate outlook pressured precious metals.
COMEX gold dropped 0.91% to $4,076 per ounce, while silver declined 1.11% to $51.795 per ounce, following the previous session's strong recovery.
Expectations of a possible December Fed rate hike and strong US economic data could keep precious metals under pressure, although changing rate expectations and safe-haven demand may drive further volatility.
US crude oil may complete its current rebound within the $91.90–$93.14 per barrel range, while the broader downtrend remains intact.
Technical analysis indicates the decline from $105.03 may be incomplete, with support at $90.65 and a potential downside extension toward $88.17–$89.11 if that level breaks.
The anticipated end of the bounce could leave US oil vulnerable to further selling pressure despite the possibility of another short-term recovery.
Oil is heading for its biggest weekly decline since April, falling more than 12%, while gold is on track for its strongest weekly gain since August with a rise exceeding 5%.
WTI rebounded toward $91 per barrel on Friday, while gold traded around $4,090 as a weaker dollar and falling US Treasury yields boosted precious metals demand.
Continued dollar weakness and lower Treasury yields could support further gold gains, while easing Middle East tensions could maintain pressure on oil prices.
Global oil markets are showing renewed signs of oversupply, with JPMorgan estimating a surplus of 1.1 million barrels per day in September that widened to 1.4 million bpd in October.
Recovering Middle Eastern supply and weaker demand have helped rebalance the market, while Goldman Sachs estimates global oil inventories stopped declining between September and October.
If supply continues recovering while high prices suppress consumption, Brent crude could face additional downward pressure as the market potentially shifts toward sustained oversupply.