Gold bullish continuation

Gold prices gaining more bullish momentum, especially when there is escalation of conflict between Israel-Iran. The attack on Iran causing more uncertainties as the country pullback on nuclear negotiation with U.S. If the situation continues to escalate, gold prices is on the path higher to print new record high. Under the current situation, traders will continue to accumulate long positions when the price starts a bearish pullback.

Today’s critical levels to watch:

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

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

Silver waiting for bullish continuation

Silver prices bounced from the level near $35.25 broken resistance level yesterday. The price might extend the bullish movement to target the 161.8% extension level at $38.34, and next targeting $40.00. As precious metal prices continue gaining under high uncertainties, traders will use each bearish correction in the price as a chance to add more long positions.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil breakout above $70.00

The brewing conflict between Israel-Iran, causing spike in the crude oil prices. It seems the situation might continue with high tension for now, which bring more bullish pressure on crude oil prices. $77.13 resistance level has been touched and there is chance of breakout above the level. Traders better avoid shorting for now and use each bearish correction as chance to add long positions as momentum still strong.

Today’s critical level to watch:

Support: $67.20, $65.00, $60.00, $52.4

Resistance: $70.00, $77.13