Gold resume bullish movement

Gold prices is trending upward again after Powell speech. The price downward movement could not reach the green box area and currently printed new higher swing low. We have no change to the gold outlook which is bullish and currently stay inside $3,250 – $3,450 area. Under current situation, a new higher swing high and breakout above $3,450 could confirm the bullish continuation to new record high.

Today’s critical levels to watch:

Support: $3,350, $3,250, $3,200, $3,150

Resistance: $3,400, $3,500

Silver on the path upward

No test on the $35.25 level and now the price already trending higher. It soon will test the previous swing high and attempt for continuation toward $40.00 & $41.632. We maintain bullish outlook, with latest swing low ($36.93) as support. A close below $36.93 might end the current bullish leg.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil upward

Crude oil prices consolidation below the green box area continue, and currently it is moving upward. Testing on the area will happen and as long as the price stay below it, there is no change to the bearish outlook. On the upside, if the price could reclaim the level above green box area or close above $70.00, the trend will turn bullish.

Today’s critical level to watch:

Support: $60.00, $52.4

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