Gold continue ranging

No breakout from the consolidation range yet for gold prices. However, it looks like the price slowly climbing and is set to test the upper level of consolidation range. There is little chance of bearish correction to target the bottom of green box area, and it will provide a chance to enter long positions. But, we continue to maintain bullish outlook and the price might break out soon.

Today’s critical levels to watch:

Support: $3,250, $3,200, $3,150

Resistance: $3,350, $3,400, $3,500

Silver moving to the top

The bullish pressure on silver prices continues as the price climbing upward. If there is no change to the bullish situation, we will see the price breakout higher and continue the bullish movement toward $40.00. On the lower side, $35.25 is the major support level to watch. Breakout and close below the level might end the current bullish trend.

Support: $35.25

Resistance: $38.80, $40.00

Crude oil directionless

The price of crude oil mostly trading between $65.00 – $70.00 now. It is under risk of bearish continuation as the pattern show a rising wedge pattern. However, the price could also resume the bullish trend as the structure is higher swing high and higher swing low. Under current situation, it is better to watch the green box area and the $70.00 for more confirmation.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13