• Silver has been very negative during the Tuesday session, as we are looking at the markets breaking away from the negative correlation between rates and silver prices.

• This has been a major factor, but it looks to be breaking down.

Silver price has been hit hard during the trading session here on Tuesday as it has been a wild day to say the least. Ultimately, this is a market that continues to see a lot of questions asked about risk appetite, and what’s interesting is that we even had a situation where interest rates dropped and we have silver collapsing. That generally isn’t what happens most times, but with that being said, I think you have to look at this as a market that will continue to see the breaking of the hammer from the previous session, I think opens up the possibility of a drop down to the $60 level.

Technical Horizons and Bearish Momentum

If we did turn back around, then you could see the $70 level offer a bit of a ceiling right along with that 200-day EMA.

Quite frankly, this is a market that I think is going to continue to see a lot of trouble. If we were to somehow break down below $60, that is going to be horrible. If we can recapture $70 and we are going to do that in the next 24 hours most likely, then it would be a bullish sign.

I think you have to be very careful here, but clearly the bears have made their intentions known and certainly have grabbed hold of the markets. This remains a market that has a lot of negativities to it, and although I think it goes much higher eventually, the reality is that we are far from it.

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Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions

As seen on: Pairs Of Aces Podcast,The Trader Guy, FXEmpire

Brent crude oil prices fell sharply on Tuesday, slipping below $91 per barrel as traders unwound a geopolitical risk premium that had supported prices for much of the year amid tensions in the Middle East.

The global oil benchmark traded between $90.87 and $91.70 per barrel during the session, extending losses from last week’s highs and marking one of its steepest daily declines in recent weeks.

The move comes as markets respond to signs of de-escalation between Iran and Israel, reducing fears of disruptions to energy supplies moving through the Strait of Hormuz, one of the world’s most strategically important oil transit routes. The sell-off reflects a broader recalibration of risk across energy markets.

From Geopolitical Spike to Risk Repricing

Oil markets have experienced extraordinary volatility throughout 2026. Brent climbed steadily during the second quarter as concerns mounted over regional conflict and the possibility of supply interruptions affecting Gulf exports.

The benchmark’s recent trajectory illustrates the rapid shift in market sentiment having traded between $91 – $94.98 per barrel in June so far.

At its June peak, Brent was approaching levels that many analysts believed reflected a significant geopolitical premium rather than underlying market fundamentals.

The latest price decline is likely to intensify attention on future OPEC+ production decisions as the alliance has spent much of the past two years balancing efforts to support prices against concerns over losing market share to non-OPEC producers.

For oil-dependent economies, including Nigeria, Brent’s trajectory remains particularly important.

Higher crude prices support government revenues, strengthen export earnings and improve foreign exchange inflows. Conversely, sustained declines could complicate fiscal planning and weaken external balances, especially for countries still navigating currency and debt challenges.

Strait of Hormuz Deadlock Persists

Concerns surrounding the Strait of Hormuz have been a defining feature of oil markets this year.

The waterway carries roughly one-fifth of global petroleum consumption and remains a critical artery for crude exports from major producers including Saudi Arabia, Iraq, Kuwait, the United Arab Emirates and Iran.

Even temporary threats to shipping in the region as it has been witnessed so far can trigger sharp movements in oil prices, given the limited availability of alternative export routes.

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The continuation of facing negative pressure by Platinum price led it form new bearish waves, to settle below $1742.00 level, surpassing the initial extra target by reaching $1660.00.

The continuation of providing negative momentum by the main indicators, by the stability below $1865.00 resistance, these factors supports the continuation of the negativity, which might target new negative stations that are represented by $1640.00 and $1605.00.

The expected trading range for today is between $1605.00 and $1740.00

Trend forecast: Bearish

Explore the latest platinum price insights for Rajkot. As of now, platinum trades at
₹54,100 per 10g, ₹5,41,000 per 100g, and ₹54,10,000 per kg. In
June, prices shifted significantly. For 100g, the max was
₹5,95,300, and the min was ₹5,41,000. The

1kg rate fluctuated between ₹54,10,000 and
₹59,53,000.

Platinum pricing depends on mining output, worldwide demand, and political factors.
Heavy industrial use, particularly in automotive and electronic sectors, creates
significant market pull. Exchange rate shifts—most notably the US dollar—along with
inflation and central bank policies, directly affect the metal’s financial performance.

Domestic coffee prices

The domestic coffee market in the morning trading session of June 9, 2026 recorded a return to increase after previous downward adjustment sessions.

According to survey data in key growing areas of the Central Highlands, bulk purchase prices simultaneously increased by 300 to 500 VND per kg compared to yesterday’s trading session, bringing the average price level of the whole region to 85,500 VND/kg.

Specifically, in Dak Lak and Gia Lai, the price both increased by 400 VND, currently trading at 85,500 VND/kg.

In Dak Nong (old), the purchase price increased by 300 VND, reaching the threshold of 85,600 VND/kg, continuing to be the locality with the highest price in the region. In Lam Dong, the price of raw coffee beans increased by 500 VND, reaching 85,000 VND/kg.

Along with coffee, pepper prices also increased by 500 VND, reaching 140,500 VND/kg, while the USD/VND exchange rate at Vietcombank slightly increased by 6 VND, reaching 26,098 VND/USD. This increase shows a slight recovery against supply and demand pressure from the world market.

World coffee prices

In the world market, the diễn biến of coffee prices in the nearest closing session continued to show a clear differentiation between the two main futures exchanges.

On the London exchange, Robusta futures for July 2026 delivery maintained a slight growth momentum when increasing by another 17 USD, equivalent to 0.51%, closing the session at 3,333 USD/ton.

Conversely, on the New York exchange, Arabica futures for July 2026 were under adjustment pressure, down 0.60 cents, equivalent to 0.24%, falling to 245.90 cents/lb.

Coffee price assessment

The pressure weighing on Arabica prices mainly comes from the harvesting activities taking place in Brazil, combined with the weakening of the Brazilian Real against the USD, creating momentum for farmers to boost sales.

However, the decline of world coffee is being significantly restrained by falling inventory data. Specifically, Arabica inventories on the ICE exchange have fallen to a 6-month low of 412,422 bags, while Robusta inventories remain at a low level, playing a role as a “base” to prevent prices from falling deeply.

The coffee market is currently in a state of stalemate between the record seasonal supply from Brazil (forecast at 71.9 million bags) and the real concern of grain shortage. In addition, risk factors such as the El Niño phenomenon, the closure of the Hormuz Strait causing global transport disruptions are still supporting price sentiment in the long term.

In the near future, coffee prices are likely to continue to fluctuate according to weather and currency exchange rates in Brazil.

Brent crude oil price remains in a narrow range this week as investors watch the new developments in the ongoing US-Iran crisis. It was trading at $95.40 today, June 5, after Hezbollah rejected the new ceasefire agreement between Israel and Lebanon. 

Brent and the West Texas Intermediate have barely moved this week as investors assessed the current phase of the US-Iran crisis and the dwindling US Strategic Reserves. 

Odds of a quick deal between the two sides have now dropped substantially this week as ceasefire talks stalled. Worse, the recent ray of hope between Israel and Lebanon found a major roadblock after Hezbollah rejected the ceasefire. 

Hezbollah argued that the ceasefire was not in Lebanon’s interest and amounted to surrender. This means that the fighting between Hezbollah and Israel will continue in the foreseeable future, something that Israel wants. 

The challenge, however, is that Iran has insisted that any deal with the US will be contigent on the developments in Lebanon. 

Therefore, there is a real risk that the US and Iran will restart their bombing campaigns. Just this week, Iran launched a barrage of missiles towards Kuwait in response to US attacks on its targets.

A renewed phase of fighting would be risky for the world economy, as it would push crude oil prices much higher than where they are today. Besides, data show that US oil inventories have continued falling, while drawdowns from the Strategic Petroleum Reserves (SPR) have accelerated and moved to the lowest level in years. If this trend continues, chances are that these reserves wil run out in months.

At the same time, the US is now in its driving season, where petroleum demand is usually at its highest. As a result, some top officials and experts warn of an impending danger in the world’s oil market if the Strait of Hormuz continues its closure for longer.

Before the war, 20.3 million barrels of oil used to pass through the Strait of Hormuz each day. This figure has now been reduced to near zero by Iran’s closure and the US blockade. 

The world has found some extra oil, with Saudi Arabia boosting its pipeline exports, surging to 7 million barrels per day. Oil exports from the US and other countries like Canada has soared. This, however, has not been enough to offset the losses from the Strait.

Brent crude oil price chart | Source: TradingView

The daily chart reveals that Brent crude oil price has been sending mixed signals in the past few weeks. On the one hand, it has moved below the 50-day Exponential Moving Average (EMA), a sign that bears remain in control.

Brent has also formed a double-top pattern, a common bearish reversal sign in technical analysis. If this happens, Brent may drop to the key support level at $60. 

On the other hand, Brent has formed an island reversal pattern, which happens after a big down gap. If this happens, the price may rebound and move above the key resistance level at $100. Such a move may also push it to $110 and above.

The GBPJPY pair formed more bearish waves, approaching 212.80 to begin recovering some losses by its rally towards 214.00 as appears in the above image.

Reminding you that the stability of the trading below 214.50 level will increase the chances of facing new bearish pressures, repeating the attempts of reaching 212.80, as breaking it will open the way for resuming the negative attack and reaching 212.00 and 211.45, while breaching the barrier and holding above it will cancel the negative scenario, opening the way for activating the bullish trend again by targeting 215.30 level initially.

The expected trading range for today is between 213.20 and 214.50

Trend forecast: Bearish

Ethereum (ETHUSD) declined in recent intraday trading, under continued bearish pressure as it remains below the EMA50, which reinforces the dominance of the short-term downtrend. Price action is also moving along a descending trendline, supporting the ongoing negative structure.

In addition, relative strength indicators are showing renewed negative signals, keeping the bearish outlook intact for the near term unless key resistance levels are broken. This setup maintains downward pressure on the price.