Gold no major bullish breakout

The consolidation of gold prices above the green box area and inside the bullish flag pattern has reached a conclusion today. The price breakout above the flag pattern with strong bullish momentum also printed a new higher high. It seems the bullish movement will continue now to target a new record high. Traders who entered long positions inside the green box area will continue to hold the positions for now.

Today’s critical levels to watch:

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

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

Silver bullish continuation

After the prolonged consolidation, silver prices finally moving upward sharply today. It is immediately higher and not far from the $35.25 target level. If the bullish momentum continues to build, then traders could expect a major bullish breakout above the level. At the current time, traders will start taking partial profit near $35.25 and let the rest run toward $40.00 and higher.

Today’s Critical levels to watch:

Support: $33.00, $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil trading upward

Crude oil prices experience gain today as the price gapped up and might continue the upward movement toward $65.00. As mentioned before, if the price could close above $65.00, then the bullish trend could continue. On the other hand, if the price experience major bearish rejection, then there is chance of bearish continuation to target $54.50 level.

Today’s critical level to watch:

Support: $60.00, $52.4

Resistance: $65.00, $67.20, $70.00, $77.13