Gold Market Analysis Fundamental Drivers: Spot gold traded near $3,344.46/oz on July 15, retreating from Monday’s three-week peak as markets monitored trade talks and U.S. economic indicators. Silver surged to multi-year highs amid escalating tensions after U.S. tariffs on EU and Mexican imports sparked safe-haven demand. Last Friday’s 1% gold rally to $3,357.39 reflected renewed uncertainty premiums, though price action remains volatile.

Technical Outlook: - Weekly Chart: Bullish momentum persists with firm support at the 5-period moving average. A close above the ascending channel could accelerate gains. - Daily Chart: Friday’s close above the midline Bollinger Band requires confirmation. Valid breakout may target the 3,452-3,500 resistance zone, while MACD’s golden cross near zero signals sustained upside. - 4-Hour Frame: Prices rallied decisively from $3,282, riding the 5/10-period MAs. Current consolidation above $3,330 suggests continuation potential.

Trading Strategy: Favor dip-buying opportunities near $3,330-$3,320 support. Resistance converges at $3,365-$3,375.

Crude Oil Market Analysis Fundamental Drivers: Brent crude inched up 8 cents to $70.44/bbl while WTI gained 5 cents to $68.50, supported by geopolitical risks. Expectations of expanded U.S. sanctions against Russia over Ukraine tensions propelled the advance, though gains remained capped by technical headwinds.

Technical Outlook: - Daily Chart: The broader uptrend toward $78 stays intact despite bearish engulfing patterns. However, MACD’s death cross above zero indicates fading momentum, hinting at consolidation. - Hourly Chart: Volatile swings dominate, with prices rebounding from range support. While intraday bias leans upward, resistance near $69.00-$70.00 may trigger reversals.

Trading Strategy: Prioritize long entries near $65.50-$64.50 support. Countertrend shorts could emerge at $69.00-$70.00 resistance.