Gold near trendline

Gold prices trading inside an ascending triangle pattern where it looks like making bearish breakout. If the pair could immediately bounce upward then we could say no breakout yet. Traders who want to enter long positions could enter near the current level with stop order below $3,245 or $3,120. A close below $3,120 will become a bullish trend invalidation. Meanwhile, a close below $3,245 is a warning sign that the trend might start to change.

Today’s critical levels to watch:

Support: $3,350, $3,250, $3,200, $3,150

Resistance: $3,400, $3,500

Silver heading toward broken resistance

A retest on the broken resistance level might be on the card for silver prices. As mentioned before, if the price started a bearish correction, then the $37,265 level will become the level to watch as support level. As long as the price maintain the position above the level, there is chance of bullish continuation.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil $65.00 bounce

The test on the green box area, or the $65.00 level trigger a bullish bounce again in crude oil prices. The price surpass 3 days candlestick high and might attempt to extend the upward movement toward $70.00. No change to the ranging situation yet, the price is currently trading between $65.00 – $70.00. A breakout and close outside the range might confirm the next direction.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13