Takeaway

The presenter argues that gold and silver are holding strong bullish rebounds, a view supported by the US Dollar Index (DXY) breaking below its 2026 uptrend. The sustainability of the move in metals is contingent on the dollar remaining weak and holding below key resistance levels.

What the presenter said

• The bullish rebound in precious metals is supported by the dollar's breakdown below its 2026 uptrend and ongoing central bank buying. [00:08]
• The DXY has seen a bearish breakdown below the trendline connecting its consecutive higher lows since January 2026. [00:35]
• For dollar weakness to be sustained long-term, the presenter believes the DXY needs a confirmed breakdown below the uptrending channel from 2008, approximately between the 97 to 95 mark. [00:50]
• Silver is currently retesting previous multi-month resistance as a major support level in September 2026. [01:53]
• The presenter argues that a sustainable hold for silver above the 71-72.80 zone could lead to an extension of the bullish forecast toward the 80, 88.20, and 96 zones. [02:18]
• Gold has broken out beyond the declining resistance that defined its bearish bias between January and August 2026. [05:18]
• A sustainable hold for gold back above 4520 (38.2% Fib) and 4700 (50% Fib) would target the next Fibonacci level at 4870 (61.8% Fib). [05:53]
• A breakdown below the 2026 low for gold would negate the long-term bullish continuation scenario. [08:11]

Trade ideas

None stated. The presenter outlined a bullish market view for gold and silver, contingent on the US dollar remaining below key technical levels, but did not provide specific trade entry, stop, or target parameters.

Levels and data cited

DXY * Resistance: 100.30, 101, 101.70 * Support: 97, 95

Silver * Key Support Zone: 70 - 72.80 (23.6%-27.2% Fib) * Upside Targets: 80 (38.2% Fib), 88.20 (50% Fib), 96 (61.8% Fib) * Downside Levels: 63 - 61.40, 58 (yearly low), 54 - 52 (confluence zone), 45 (38.2% Fib)

Gold * Support: 4700 / 4690 (50% Fib), 4520 (38.2% Fib), 4300 - 4230 (previous rejection zone) * Upside Target: 4870 (61.8% Fib) * Downside Targets: 3960, 3860, 3660, 3400 (align with 10-year uptrending support)

Risks and what would invalidate this

• Short-term volatility remains elevated due to geopolitical developments and the Fed's policy outlook.
• If the DXY reclaims key levels (100.30, 101, 101.70), it could see sustained strength and cap gains in precious metals.
• A sustainable breakdown for silver below the 63 to 61.40 zone could realign price with yearly lows. A hold below 52 would extend the drawdown risk towards the 45 mark.
• The presenter notes potential overbought risks for silver if it reaches the 88.20 and 96 upside targets.
• A sustainable breakdown for gold below 4300 and 4230 could realign price with long-term trendline support levels.
• The entire long-term bullish continuation scenario for gold would be negated by a breakdown below the recorded 2026 low.