Gold Trendline Break, Silver Pullback, Brent and NASDAQ in Focus

Market Technical Outlook – This Week’s Price Setups

Gold Faces Trendline Breakdown Risk

This market technical outlook covers major assets like gold, silver, Brent oil, and NASDAQ 100. Key price movements and technical patterns suggest pivotal shifts across multiple markets, offering important trading insights for the week ahead. The gold trendline break from early May has shifted market sentiment, with the price currently hovering near $3,367. This move below the ascending support suggests bearish momentum may now be building. The key resistance level remains at $3,442, while immediate support sits at $3,287. If bearish momentum continues, $3,201 and $3,167 become potential targets.

• Key Levels: Resistance at $3,442 and $3,490, Support at $3,287 and $3,201.
• Trendline Break: A rising trendline has been broken to the downside.
  
  

Silver Rejected at $37, Pullback Extends

Support Levels to Watch 

Silver saw a sharp rejection from the $37 zone and has pulled back to $36.36. It found short-term support near $36.04, just above the next demand zone at $35.45. This might lead to a consolidation phase. A daily close back above $36.80 could reignite bullish interest.

• Key Levels: Support at $36.04 and $35.45; resistance at $36.80 and $37.
• Market Structure: Failed breakout followed by a pullback.

Brent Oil Eyes $78 After Breakout Confirmation

Technical Structure and Channel Continuation

Crude oil is testing the $76.20 resistance zone again after breaking out of a rising parallel channel. The strong bullish trend remains intact, supported by a breakout with volume from the channel. A confirmed breakout above $76.20 may target $78+ levels, while $72 remains a critical support if rejection occurs.

• Key Levels: Resistance at $76.20, support at $72.00.
• Channel Breakout: Bullish breakout from parallel channel confirmed.
  
  

NASDAQ 100 Stuck in Range Near 21,453

Weak Momentum Hints at Potential Breakdown

Price is approaching the $21,453 support within a rangebound structure between $21,453–$21,982. Multiple failed breakout attempts at the top of the range hint at potential weakness. A breakdown below $21,453 could accelerate downside toward $20,974.

• Key Levels: Range resistance at $21,982; support at $21,453 and $20,974.
• Market Structure: Horizontal range forming.

Overall, market sentiment remains cautious amid global uncertainty, including geopolitical risks and central bank policy shifts. Traders are advised to watch for confirmation signals before entering new positions, especially with volatility expected to stay elevated throughout the week. As the gold trendline break aligns with broader risk-off sentiment, traders should remain cautious and wait for confirmation signals before entering positions. Traders should monitor this market technical outlook closely, as several assets approach critical support and resistance zones that could define short-term direction.