Gold triangle consolidation

The overall trend of gold expected to continue sideway inside $1,680 – $1,700 and the triangle formation on the daily chart. No momentum movement formed and the range slowly tighten. We still think the long-term trend of gold is bullish and the price could breakout higher. Long positions near $1,680 with a stop below $1,650 could be taken. Alternatively, long positions after breakout happen also another option to take.

Today critical levels to watch:

Support: $1,680, $1,650, $1,600

Resistance: $1,700, $1,750, $1780

Silver stuck below $15.60

Silver continues moving upward above $15.00 – $15.20 area but could not break out above $15.60. The price stuck below the resistance level and might continue to trade below it for now. If there is no breakout above the resistance level then silver expected to extend its sideways movement inside $14.80 – $15.60.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.80, $14.40

Resistance: $15.60

Crude oil stuck near $25.00

Crude oil stage rally from $10.00 and managed to trade above $20.00. The upward movement continue toward $25.00 and currently, the price stuck near the resistance level. No breakout happen but the bull keeps pressing to the upside. If crude oil could close above $25.00 then traders will expect the further upward movement to target $30.00 handle.

Today critical level to watch:

Support: $22.00, $20.00

Resistance: $25.00, $30.00