Gold testing broken trendline

The bearish pressure on gold prices continue even though the price has cleared the bearish trend line. The price bounce from the trend line and will attempt to continue the bullish trend. However, there is potential for the bear to push the price lower and clear the weak hand before continuing the bullish trend. If the price pushed lower, then traders will continue to use the green box area as a place to add long positions.

Today’s critical levels to watch:

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

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

Silver continue the bullish trend

Silver prices breakout above the $35.25 resistance level and looks to continue moving upward with strong momentum. The bullish movement might extend toward the 161.8% extension level at $38.347. On the upside, the price has $40.00 as target to watch. If a bearish pullback happens, then traders could wait near $35.25 breakout level to add more long positions.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil breakout above $65.00

Crude oil prices seems indicating bullish continuation as the price climb above $65.00 today. The price might extend the bullish movement to target the $70.00 resistance level next. If the price climb above $72.26 level, then the trend will completely turn bullish. At the current time, traders will use the $65.00 level as a support level. When bullish bounce happen, then traders could add long positions.

Today’s critical level to watch:

Support: $60.00, $52.4

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