Gold no breakout yet

Gold prices have been consolidating for few weeks between $3,291 – $3,371 where a breakout might happen soon. We think the price will continue the bullish movement and breakout higher. We could see the low gets higher, while the high keep constant. It is an ascending triangle pattern sign. Traders who has long positions from the green box area will continue to hold the positions now. If the pattern confirmed, then we might see a new record high in a few weeks.

Today’s critical levels to watch:

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

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

Silver moving upward

Silver prices bounced from the previously broken swing high and currently moving upward to retest the $38.80 level. On the upside, we think the price will reach the $40.00 resistance level soon. On the lower side, the resistance turned support level will become the major level to watch. A close below $35.25 will become our major bearish confirmation that the trend has switched.

Support: $35.25

Resistance: $38.80, $40.00

Crude oil possible bearish attempt

Crude oil price’s bullish attempt produced a bearish pin bar pattern last week, which might put the price under bearish risk. If the price move lower, breakout below green box area and formed new lower swing low, then the trend will turn bearish. On the other hand, if the price could start climbing above $70.00 then we might see a bullish continuation.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13