Gold waiting bullish continuation

Gold prices have broken above the bullish flag pattern and currently consolidating. The price trading lower yesterday but show bullish movement today. It might form a range near the current level or slowly grind upward. However, this week, U.S. non-farm employment data release might trigger some volatility in the gold prices. We maintain bullish outlook on the price and welcome a bearish correction toward $3,300 before bullish continuation if it happens.

Today’s critical levels to watch:

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

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

Silver forming base

The strong bullish momentum in silver prices does not follow by immediate bullish movement toward $35.25. The target is not far, and we think silver prices will reach it soon. Traders will observe the reaction after the price reach the level. It could trigger massive movement, either bearish rejection or major bullish breakout above the level.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil bearish reaction

Crude oil prices might be trading higher, but no new higher high yet on the chart. The price looks under bearish pressure today and might continue to consolidate near the current level. On the upside, a close above $65.00 will confirm a bullish continuation. Meanwhile, a close below $60.00 will open the path toward $54.50 – $55.00 area again.

Today’s critical level to watch:

Support: $60.00, $52.4

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