Gold extend bullish movement

Gold prices make a bullish attempt today above the $5,000 level but no major upward movement. It is currently testing the multiple highs. Will the price breakout higher, and resume the bullish movement to target a new record high? Alternatively, will it turn lower first to clear the stop below before continuing upward? As the current level is not far from the $5,000 level, traders might want to observe the closing level at the end of the week to get a better clue.

Today’s critical levels to watch:

Support: $5,000, $4,670, $4,546, $4,500, $4,380

Resistance: $5,200

Silver bullish attempt

Silver prices slightly higher today but stay below the latest bearish candlestick high. It needs to surpass $92.155 to print new higher swing high and reverse the current bearish outlook. We favor further downside to test $50.00 before further upside. Under current situation, traders will observe the price structure and only turn bullish after new higher swing high printed.

Today’s critical levels to watch:

Support: $85.00, $83.91, $80.00, $70.00

Resistance: $100.00, $120.00

Crude oil testing $65.00

Crude oil prices consolidation continue, and currently the price is testing the $65.00 resistance level. A breakout above the level and close above $67.20 will confirm the continuation of bullish trend. Meanwhile, on the lower side, a close below $62.00 is a bearish confirmation.

Today’s critical level to watch:

Support: $62.00, $60.00, $57.60, $55.00, $54.50, $52.4

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