Gold sideways

Gold range tighten for three days without breakout yet. The price might continue trading sideways with bullish bias. If the price turn lower, then traders could use the $2,950 – $3,000 area as a place to take long positions. We still expect the price to continue the bullish trend, to target the $3,108 level next.

Today’s critical levels to watch:

Support: $3,000, $2,981, $2,900, $2,800

Resistance: $3,100

Silver no continuation

Silver prices made a bullish attempt today, surpassing the previous day’s high. However, the price stalled and trade back below the opening level. It seems the price might continue trading sideways inside the previous day’s range. When the price could break out higher, it will continue the bullish trend toward $35.25.

Today’s Critical levels to watch:

Support: $33.00, $32.50, $31.50

Resistance: $35.25

Crude oil test $70.00

The upward movement of crude oil prices has reached the $70.00 resistance level. It will test the level and traders will wait for reactions. If the price get rejected by the resistance level, then traders could enter short positions targeting $67.20 or lower. However, a close above the $70.00 level might cancel the bearish outlook.

Today’s critical level to watch:

Support: $65.00

Resistance: $67.20, $70.00, $77.13, $80.00, $83.85