Pressure builds again – dollar slips while metals reach key decision areas

The new week is starting with a familiar theme: pressure is building, but the market is still not moving in a clean line.

The dollar is once again showing technical weakness, while the metals are splitting into two camps: some have continued internal consolidation, while others are now standing right on the edge of a big directional move, which makes today’s closing levels especially important.

US Dollar Index (DX.F)

The first thing that comes up on the daily chart is the Friday black candle.

Not only did it erase the small bullish gap formed at the beginning of the day, but it also closed Thursday’s bullish gap and, together, formed the previous white candle. Another bearish pattern.

This matters because a very similar candlestick formation marked the beginning of the April selloff. When we add two more factors (two bullish gaps have been neutralized and the earlier breakout above the 38.2% Fibonacci retracement has been invalidated) we see that the technical picture has become significantly weaker.

Today’s session only reinforced that view, with the dollar moving to the downside and slipping below 99, increasing the likelihood of a fresh test of the key support zone at 97.56-97.82 in the coming days.

Main levels to watch:
Support: 97.56-97.82 (green support zone) / 97.36
Resistance: 98.75-99.68/100

gold(gc.f) & Silver (SI.F) → are reserved for these classes premium reader Today. And the timing is not random: we are sitting in technical areas that could shape not only tomorrow’s session, but the entire week ahead.

Copper (HG.F)

Showing one of the more interesting technical setups on a copper board.

Friday’s bearish gap triggered another retest of the key green support area, but instead of breaking below, that support held, and today’s bullish gap immediately began attacking the nearest key resistance.

That sequence created a classic bullish island reversal pattern on the charts, which matters because island reversals often act as short-term sentiment reset points (in practice, the nearest support area has just strengthened, and the bulls have gained another technical argument).

Nevertheless, our final comment remains valid:

“(…) For bears, the situation is clear: no deep correction without a confirmed break of support.
For bulls: No continuation without clearing resistance.

Therefore, until one side wins, the price remains compressed and the next breakout/breakdown will likely define the next meaningful move. (…)”

Main levels to watch:
Support: Main green support zone (599.05-600.35)
Resistance: 608.50-613.75 / 628 / 642.50

Platinum (PL.F)

The bearish trend in platinum continues.

started on friday The margin of a recession (2011–2038).) which remains unfilled despite the efforts of buyers, meaning that that area still acts as immediate resistance and that alone already gives sellers the edge.

But there is more… The price also continues to trade below the lower boundary of the green rising wedge, which means that the bearish scenario resulting from the breakdown under the formation is fully active.

Therefore, until the bulls fail to bridge that gap and reclaim the wedge, sellers retain control.

What does it mean? →→ Rest analysis available premium price Reader today.

Palladium (PA.F)

Palladium is sitting in a much more delicate balance.

Despite a temporary drop below the lower boundary of Friday’s bearish gap and orange consolidation, buyers managed to mount a successful late-session counterattack, which invalidated the earlier breakdown and completely closed the Asian gap in the morning.

This price action showed where buyers are still willing to defend.

However, the new week began Another short bearish gap (1489–1509)And the bulls have not been able to close it yet, which increases the risk of another pressure test around the lower boundary of the consolidation.

The line in the sand is clear: → Rest analysis available premium price Reader today.

today’s takeaway

dollar

Bullish Outlook: Retesting 99 and settling above recent resistance will slow down the bearish pressure.
Bearish Outlook: Continued weakness below 99 keeps the path open towards 97.56-97.82.
Key Takeaway: Bearish trend + failed breakout is not the combo the bulls wanted to see.

Sleep (…)

silver (…)

copper

Bullish Outlook: The island reversal supports another upside attempt if bulls maintain the momentum.
Bearish Scenario: Failure to comply leaves wide scope intact.
Key Takeaway: Strong technical response but still needs confirmation.

platinum (…)

Durg (…)

final thoughts: The week is starting with pressure at all the right places. Not every chart is ready to break out but many are coming uncomfortably close. Today’s closing price may show a winner.

Be patient, respect the levels and let the market show you its hand.
Anna