Gold extending bullish movement before inflation data

The release of inflation data tomorrow might be the reason that gold prices start its advance. Traders are betting that inflation will continue to cool and the Fed will continue its rate-cut program. Currently, gold prices are testing the trendline and the $2,700 level. Will the price breakout higher and continue the bullish trend? Alternatively, will it get rejected it resumes the bearish movement to retest $2,530 – $2,550?

Today’s critical levels to watch:

Support: $2,600, $2,550, $2,530

Resistance: $2,685, $2,750, $2,800, $2,841

Silver closed above $31.50

The bullish journey of silver prices seems to continue as the price managed to close above the $31.50 level. There is a bullish attempt today but no movement above the previous day’s high yet. Despite the situation, traders who has long positions since $30.00 will continue to hold the positions for now. On the upside, the price will target a new higher swing high.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil consolidating between $67.20 – $70.00

Crude oil prices are mostly sideways between $67.20 – $70.00 which provides traders with the chance to do a range trading strategy. No change to the outlook, traders will wait for a breakout and close outside of the range to confirm the next direction. No clue on the breakout direction as it could happen on either side.

Today’s critical level to watch:

Support: $67.20, $65.00

Resistance: $70.00, $77.13, $80.00, $83.85