Gold triangle consolidation

Gold prices are supported by the trendline but are contained within the triangle pattern now. Under the current situation, traders will wait for a breakout and close outside of the triangle range to confirm the next direction. In the long-term view, the price is in a bullish trend and has no change to the bullish structure yet.

Today’s critical levels to watch:

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

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

Silver trading between $29.00 – $30.00

The bearish pressure on silver prices halted as the price bounced from the $29.00 level. At the current time, silver prices are trading between $29.00 – $30.00, and will wait for further confirmation. A close outside of the area might confirm the price next direction. We still think the price will continue its bullish trend. However, if the price resumes the bearish movement then $27.50 is the next target to watch.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil trading near $70.00

Not much changed in the crude oil prices situation. The price looks stabilizing near the $70.00 level and might continue trading near it. We have a range which span from October to now. The next higher swing high or lower swing low might confirm the price next direction.

Today’s critical level to watch:

Support: $67.20, $65.00

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