Hello traders! It has been a while since my last market analysis, and today we are diving into a review of how the crypto, gold, and oil markets behaved over the past week.
All financial sectors saw intense volatility. We will break down this review step-by-step using pure price action, keeping things simple, clear, and focused.
Gold Market Review
Gold started the week testing upper resistance near $4,205 per troy ounce. Sellers strongly defended this area, creating a solid ceiling. After failing to break higher, the price aggressively reversed downward. It broke through minor intraday support levels and reached a weekly low of $4,141. Gold wrapped up the trading week at $4,145.30, marking a notable 1.72% decline for the week.
The candlesticks show heavy selling pressure, leaving a long upper wick on the weekly chart. Traders should watch the $4,140 level closely; if buyers fail to step in here, we could see a deeper drop toward the next major support zone.
Crude Oil Market Review
The oil market experienced a massive technical breakdown this week, with prices plunging sharply as sellers completely took control of the chart. Oil gave up almost all its gains from the previous months, putting it on track for a steep weekly drop of nearly 10%. Looking at the global benchmark, Brent crude broke cleanly below two major structural floors: first at $86.09, and then right through its long-term weekly support at $79.46. It hit a sharp multi-month low of $77.75 mid-week before stabilizing slightly to close around $80.59. The US benchmark (WTI) followed the exact same pattern. It faced intense selling pressure, dropping to a low of $74.1 before settling the week at $75.43.
Oil is currently in a heavy markdown phase, and the next clear technical target on the downside sits around $74.78.
Crypto Market Review (Bitcoin)
Bitcoin spent the week stuck in a clear consolidation phase, showing a lot of sideways price action while respecting a very specific trading range.
After pulling back from its historical highs, Bitcoin has established a clear horizontal battlefield. It opened the week fluctuating in the mid-$64,000s. Sellers pushed the price down to a weekly low of $62,897.52. However, buyers immediately showed interest near the bottom of the range, preventing any further breakdown and driving the price back up. Bitcoin is holding steady and trading right around $64,240.91.It appears that $60,000 is the major floor price.
well let's see what the market has to offer this week, but till then, trade wisely and always prioritize capital preservation. see you shortly friends, cheers!
