Buyers dominate crude oil as moving averages hold support levels
Crude oil nears $100 as Middle East tensions support prices. Moving averages define key levels for buyers and sellers.
1 h ago10 min read
Gold falls back from trendline as oil, yields rise; growth fears persist
Gold retreated from a key trendline amid higher oil prices and yields, with growth concerns looming ahead of US data.
20/10/2026 08:127 min read
The precious metal turned lower from a significant trendline on Wednesday, with a slight uptick in oil and bond yields acting as headwinds. No clear catalyst drove the decline; prices remain within a range due to a dearth of major developments.
Geopolitical conditions remain largely steady, though Al-Arabiya reported on Tuesday that a deal in US-Iran talks could be unveiled this week. Such ambiguous reports have previously fallen short, so caution is warranted.
Growth worries are moving into focus, making Friday's US Flash PMI release the key event of the week, unless unexpected progress occurs in US-Iran talks.
A downside surprise in the data could amplify growth fears and prompt a dovish shift along the curve, pushing gold higher as real yields decline. Conversely, stronger figures might ease growth concerns and pull gold downward.
Gold Technical Analysis – Daily Timeframe
Gold turned away from the descending trendline as sellers entered, with a defined risk above that line, aiming for a decline to the 3,885 level. Buyers require a move above the trendline to begin building positions for an advance to 4,700, with 4,500 as an initial goal.
Gold Technical Analysis – 4 Hour Timeframe
The price has been consolidating inside a fairly broad range. Participants are likely to keep buying at support and selling at resistance until a breakout occurs. Upside buyers will probably aim for 4,400 next, while sellers continue to target 3,885.
Gold Technical Analysis – 1 Hour Timeframe
The price retraced to the minor support near 4,130, testing below it on several occasions. Movement within ranges tends to be erratic, so waiting for a breakout is advisable unless a catalyst suggests an imminent move.
If the price surpasses the recent swing high near 4,150, aggressive buying could emerge to target a move above 4,228 resistance. Sellers will seek a break beneath the daily low to extend losses to 4,070 support.
Upcoming Catalysts
Thursday brings the latest US jobless claims data, and Friday caps the week with the US flash PMI readings.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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