Stock indices recover, Gold stays bid and Oil corrects – Intra-day chart updates

[Redator]

Market movements during risk-off events can be particularly challenging for traders, underscoring the critical need for thorough preparation, both in terms of chart levels and mental fortitude, to effectively navigate this volatility.

US stock indices are currently paring their overnight declines, though prices have yet to reclaim their previous day's highs.

This rebound follows the release of better-than-expected University of Michigan consumer sentiment data, which came in at 63 against an expectation of 53.5 (up from last month's 52.2 reading). Notably, year-ahead inflation expectations were revised down significantly, from 6.6% last month to 5.1%.

In the commodities complex, Oil and Natural Gas are consolidating at higher levels, though off their overnight peaks. WTI crude, after surging by as much as 10.85% in the overnight session, has since seen a correction. Broader energy commodities are currently trading with gains of approximately 5% on the session.

Gold although off its overnight highs, hasn't corrected as much as other assets. The precious metal, which in the past few weeks is the best instrument to measure market sentiment, is trading around 3,420 as we speak.

Short-timeframe Charts for S&P 500, WTI Oil and Gold

S&P 500 crosses back above 6,000

S&P 500, 5m Chart, June 13, 2025 – Source: TradingView

Stocks gapped lower at the 9:30 AM cash open, yet notably commenced trading significantly above the lows established during the overnight futures session.

Prices are currently rebounding above the 6,000 milestone, boosted by the positive University of Michigan Consumer Sentiment release.

However, underlying market flows still reflect a degree of anxiety, as participants position themselves for potential headlines over the weekend.

Indices are now attempting to reclaim the highs from the late-overnight session and have just breached the 61.8% Fibonacci retracement level of the preceding significant move.

US Oil consolidates around $72

US Oil WTI, 5m Chart, June 13, 2025 – Source: TradingView

Oil prices surged by nearly 11% in the overnight session, following approximately three months of trading below $70 per barrel.

Concerns over potential supply disruptions, exacerbated by Israel's strikes on Iran, are typically driving a strong bid. We anticipate current prices to remain supported at or around these levels for the session.

While further headlines may continue to fuel demand, WTI crude is currently trading approximately $4 below its overnight high of $76.28.

Gold consolidating around 3,420 attempts a rebound

Gold 5m Chart, June 13, 2025 – Source: TradingView

The Bullion has shot up to less than 2% of its all-time highs in the overnight session.

While stock indices have retraced most of their overnight moves, Gold only retraced 50% before rebounding higher.

After a failure to hold above the 3,440 overnight highs, gold prices are retesting the newly formed pivot zone around 3,420. The metal is attempting a rebound on its 5m 200 MA.

It is probably the best tool to track, along with Oil to see if more fears are coming to the markets.

Safe Trades!

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