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Today Technical Analysis: Gold Jumps Above $4,600 As Market Volatility Remains High

March 31, 2026, 08:31

Brent Technical Analysis

Brent crude is currently trading around $110 and is showing early signs of short term weakness on the 1H timeframe after a strong bullish rally. The broader structure remains bullish, as price has been forming higher highs and higher lows, supported by upward sloping moving averages.

However, the recent rejection from the $113.25 resistance level we saw yesterday indicates seller presence, and price is now consolidating around the 20-period moving average.

If price breaks below the $110 psychological ssupport level, a deeper pullback toward $108 or even $106 could unfold. On the upside, reclaiming $112.50 would likely show bullish momentum and open the door for another attempt toward $113.50 and beyond.

Brent 1H Chart

Resistance$110.80$111.65$113.30
Support$108.75$106.30$105.45

Gold Technical Analysis

Gold is trading near $4,550 and continues to move within a short-term bullish recovery phase following its previous decline. The hourly chart shows a sequence of higher lows, with price holding above the 20-period moving average, indicating sustained buying interest.

However, the recent rejection from the $4,620 resistance level suggests that the market is facing strong pressure at higher levels. Price is currently consolidating just above the $4,550 support zone, with moving averages beginning to flatten, signaling potential range bound conditions in the near term.

If price manages to push above $4,620, the bullish continuation could accelerate toward higher resistance levels. Conversely, a break below $4,520 would weaken the current structure and expose the downside toward $4,450.

Gold 1H Chart

Resistance$4,620$4,750$4,800
Support$4,470$4,380$4,250

Dow Jones Technical Analysis

Dow Jones is trading around 45,635 and appears to be in a recovery phase. The recent price action shows a shift from bearish momentum to a corrective bullish structure, with higher lows forming and price reclaiming short term moving averages.

The 20-period moving average is now acting as dynamic support. Despite the recovery, the overall structure still reflects prior weakness, and the market remains below key resistance around 46,000–46,200. A break above this zone would signal stronger bullish continuation toward 46,500, while failure to sustain above current levels could lead to renewed selling pressure back toward 45,200 and potentially 44,800.

Dow Jones 1H Chart

Resistance46,13546,52046,780
Support45,27544,82044,270

Risk Disclaimer: This material is provided for informational purposes only and does not constitute a recommendation or investment advice. Trading financial instruments on margin involves substantial risk and may not be appropriate for all investors.

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