Gold waiting for follow up

Gold has broken above the seven days range and enters another phase for a bullish move. However, the precious metal will wait further push by the bull. If gold moves back inside the seven days consolidation range, then traders might want to avoid adding a long position.

On the weekly chart, the bounce might end in bullish harami pattern and help gold to secure higher ground when the pattern is broken. On the other hand, a break below the harami pattern is not favorable and could trigger more selling.

Today critical level to watch:

Support: $1,300

Resistance: $1,320, $1,325, $1,337, $1,340

Silver more challenge toward $16.80 – $17.00 resistance

The price of silver cleared $16.50 in the previous trading session and open the bullish scenario. Nearest resistance is the $16.80 – $17.00 area. Will the bull manage to break the resistance area and continue toward long-term level $17.50 – $17.73?

Today critical level to watch:

Support: $16.50, $16.00

Resistance: $16.80, $17.00, $17.50

Crude oil riding the elevator to target

Crude oil climb confidently Yesterday and print a higher close. The price could continue higher as the fundamental situation supported it. There is nothing to do at the current time, and traders will wait until correction happen to enter a long position. The first level to watch for the long position is $70.00.

Today critical level to watch:

Support: $70.00, $65.78

Resistance: $72.49, $75.00