Gold new bullish run

After prolonged consolidation near the green box area, gold prices finally set free with strong upward momentum. The price is near previous swing high and will test it soon. We expect the price to immediately break out and continue the bullish movement toward $3,500 resistance level and $3,647 Fibonacci extension level. If the price loss upward momentum, fail to print new higher swing high, then the trend might turn bearish.

Today’s critical levels to watch:

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

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

Silver new swing high

Silver prices undoubtedly are the strong performer without deep bearish pullback. The price climb and print new higher swing high today, setting its foot nearer to $40.00 and $40.757 target. Still the same strategy as before, if the price make a bearish pullback, then traders could wait near support level $38.80 for bullish reactions to enter long positions.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil growing bearish

The price might have printed new higher swing high, but it looks like struggling below the $70.00 level. If the price breakout below the green box area, printed a new lower swing low, then the trend might turn bearish again. On the other hand, if the price could break out and close above $70.00, then there is a chance of bullish continuation to print a new higher swing high.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13