UAE was forced to close some beaches after the country detected an oil spill from a tanker which was attacked in the Persian Gulf. Iran has increased attacks on tankers in recent weeks. In this light, the U.S. may choose to restart the military operation against Iran to protect vessels going through the Strait of Hormuz.

Iran has previously warned that the country’s response to a potential attack would not be limited to defense. Iranian officials have speculated that the country could initate a land operation against any country helping the U.S. I’d note that the U.S. has already ordered some diplomats and their families to leave Saudi Arabia, a sign of escalating tensions in the region.

WTI oil climbed above the resistance at $100.50 – $101.00 and is trying to settle above the $103.00 level. In case this attempt is successful, WTI oil will head towards the next resistance, which is located in the $106.00 – $106.50 range. A move above the $106.50 level will push WTI oil towards the $110.00 level.

Platinum price launched a strong bearish attack in yesterday’s trading, pressured by its fluctuations below the additional resistance extending toward $1650.00. As a result, the price has reached its initial main target at $1555.00.

The price may be forced to move sideways for some time. However, the main technical indicators are converging to signal negative momentum, increasing the likelihood of a renewed bearish attack. We expect the price to move toward $1510.00 and $1480.00.

The expected trading range for today is between $1510.00 and $1600.00

Trend forecast: Bearish

Copper price intensified its bearish attack in yesterday’s trading, driven by recurring negative pressure, breaking below our previously suggested first target at $6.3000. This has kept the price trading below the 55-period moving average.

We note that continued stability below the resistance level at $6.6100, alongside the negative momentum signals from the main technical indicators, could strengthen the bearish pressure. We therefore expect the price to attempt a move toward support near $6.2400. A break below this level would pave the way for further declines toward additional targets, potentially starting at $6.1100.

The expected trading range for today is between $6.2400 and $6.4300

Trend forecast: Bearish

Silver is trading near $54.05 on the 4-hour chart, inside the falling channel that has guided prices lower since September. The latest rejection came near $58.09 at the top of the channel, and the drop that followed took silver to a fresh low near $53.43, just under the $53.46 support, before a small bounce.

If $53.46 gives way on a closing basis, $52.41 and then $51.39 come into play. On the upside, silver needs to clear $54.53 first, then $55.77.

Moving Average Crossover Reinforces Bearish Pressure

Signs of resistance are anticipated near that average given its accelerating downward slope, reflecting increasing seller momentum. The average has also declined below the recent minor lower swing high of $62.09 and is approaching a cross below the falling channel’s midline. Those signs support the bearish implications of the recent moving average crossover, in which the 20-day moving average crossed below the 50-day moving average, reinforcing short-term bearish momentum. Together, these factors suggest that any recovery may encounter selling pressure before reaching the upper channel boundary.

Breakdown Risks Extend Toward $48.29

Finally, a further support reference lies near $54.49, defined by the high of a resistance shelf that began forming in October 2025. Given this nearby support, a break to new lows should be treated cautiously until additional technical evidence confirms the breakdown. However, if price continues to fall and these support levels fail to hold, silver could eventually test support near the 78.6% Fibonacci retracement at $48.29. For now, the $55.40 low remains the immediate decision point, with a breakdown favoring trend continuation and a sustained recovery potentially establishing a higher swing low.