Gold looking to continue bullish trend

The bounce from the trendline has set gold prices to continue the bullish trend. There is bullish movement today but it seems traders getting cautious ahead FOMC minutes of meeting release. Nevertheless, traders who has entered long positions when trendline retest happen could hold the positions now while expecting new higher swing high.

Today’s critical levels to watch:

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

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

Silver stay inside $29.00 – $30.00

No movement outside of the $29.00 – $30.00 range yet in silver prices. Traders will continue waiting for the breakout and close outside of the range to get confirmation on the next direction. Will the price resume the bullish trend and close above $31.50 to confirm the bullish continuation? Alternatively, will it turn lower and target the level below $27.50?

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil time for bearish movement?

The upward movement of crude oil prices stopped before it could reach the $77.13 resistance level. Crude oil prices are turning lower and might start a downward movement to target $70.00. However, if the price could reverse the bearish pressure and start trading upward then traders could expect a retest on $77.13 soon.

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85