Gold triangle consolidation

The consolidation inside the triangle pattern and between $1,900 – $1,950 continue. No breakout from the range yet which mean traders will continue to implement the “Wait and see” strategy. We favor bullish breakout but prepared for bearish breakout toward $1,780 – $1,800 area too.

Traders might want to avoid short positions for now at least until bearish breakout happen.

Today critical levels to watch:

Support: $1,900, $1,800

Resistance: $1,950, $2,000, $2,050

Silver holding out near $25.00 – $26.00

The price of silver experienced more bearish close but maintained the positions above $25.00 – $26.00. As long as the price stay above the support area, silver could continue upward and target $30.00 or higher. Traders could use the area to enter long positions with a stop below $25.00 or previous swing low $23.37

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00

Crude oil time for bullish continuation?

Crude oil closed the day on the bullish side yesterday with significant bullish momentum. The price might continue moving upward and set a new high. Traders will continue avoid short positions for now.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00