Gold gathering buyer

Gold spike higher in the previous day, but there is no new high printed above 2018 high and the close below the previous swing high. The situation is bullish, and gold only needs a close confirmation above both previous swing high and 2018 high to continue its uptrend. On the long-term ground, we might see gold targeting $1,500 handle.

Today critical level to watch:

Support: $1,350, $1,340, $1,337, $1,325, $1,320

Resistance: $1,360

Silver Not a convincing breakout

The price of silver breakout above the triangle, but closed near the top of the triangle. The price close is not convincing as a breakout and might slip back inside the triangle. Silver next movement might need to wait for the test of the triangle. After a bounce, a close above $16.80 is needed to break from bearish trend completely.

Today critical level to watch:

Support: $16.50, $16.30, $16.00

Resistance: $16.80

Crude oil direction is up

There is nothing to hold crude oil from moving higher now as the price print new yearly high. Today the bull task is to move the price above previous day high and continue upward. On the other hand, if correction happens, then traders could use $65.78 as the level to look for a long position.

Today critical level to watch:

Support: $65.78, $65.00, $62.80

Resistance: –