Conditions have formed for the development of a local bottom and a potential upside reversal.

The gap in the $87.00 area has been formally closed, which opens the possibility for the market to attempt a bounce higher from this zone.

Gold remains in a swift and pronounced downtrend, making any attempts to bet on an upside reversal similar to trying to stop a speeding locomotive.

The upward correction is developing rather unconvincingly — especially if viewed not simply as a technical retracement, but as an attempt to reverse the broader downtrend

Bitcoin is re-testing the strategically important support zone around $61,300, which previously provided some stabilization after successfully defending the key psychological level of $60,000.

Brent crude is recovering toward $92.52 per barrel after U.S. retaliatory strikes against Iranian targets near the Strait of Hormuz injected a fresh risk premium, keeping the market wedged between support at $91.45 and resistance at $93.80.

The greenback's dominance is amplified ahead of today's U.S. CPI release, where headline inflation is projected to climb to a three-year high of 4.2% YoY, with Core CPI expected at 2.9%.

The anticipated downward trend reversal we highlighted last week has materialised. The pair is now undergoing a standard technical pullback.

The asset is currently testing the demand area at $89.50–$99.00. We assess the probability of a sharp upward rebound from this zone as very high.

The pair continues to consolidate and build tension ahead of a likely downward reversal, for which a signal was formed earlier.

The pair is currently undergoing a moderate upward correction in both pace and magnitude.

Bulls have so far failed to break through the key resistance at $64,000.

Gold is hovering precariously near $4,343 per ounce, attempting a fragile intraday stabilization after locking in a severe multi-day drop.

Brent crude is currently trading lower at $94.63 per barrel, wiping out yesterday's early session momentum.

The pair has moved into an upward correction with sufficient room ahead up to 1.3415.