Gold no bullish continuation

Gold prices have printed a major bullish candlestick close yesterday. However, there is no bullish continuation in today’s trading session. The price experience bearish pressure, but mostly limited. It seems the price will continue the consolidation near the green box area and below the trend line. As mentioned before, if the price could break out higher above the trend line, then the bullish trend could continue. On the other hand, bearish rejection will bring the price down to consolidate inside the giant flag pattern.

Today’s critical levels to watch:

Support: $3,250, $3,200, $3,150

Resistance: $3,350, $3,400, $3,500

Silver stick near $33.00

The sideways situation of silver prices continue as the price trade near the $33.00 level. There is no confirmation on where the price will move next. If the price continues the bullish trend, then $35.25 is the upward target. On the lower side, a breakout and close below $31.50 might put the risk on the current bullish trend.

Today’s Critical levels to watch:

Support: $33.00, $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil sideways

No bearish continuation in the crude oil prices even though it has been rejected from the $65.00 level. It seems the price is consolidating, with $60.00 as support level. The breakout and close below $60.00 or a close above $65.00 will confirm the next direction of crude oil prices. Under current situation, it is better to wait and see on the sideline.

Today’s critical level to watch:

Support: $60.00, $52.4

Resistance: $65.00, $67.20, $70.00, $77.13