Gold waiting for the breakout of the triangle

The upward movement of gold manages to secure closes above the trendline and lead the precious metal back inside triangle consolidation. Gold might continue inside the triangle this week and waiting for a breakout. The overall trend continues contained inside the bearish channel which favors the bearish scenario. Traders will wait until breakout happens before placing positions.

Today critical levels to watch:

Support: $1,280, $1,265, $1,260

Resistance: $1,300, $1,320, $1,325

Silver slips below $14.80 and close below it

The bull could not maintain the position above $14.80 and the price slip below it. On Friday, there is a bullish attempt but could not bring the price to close above $14.80. This week, silver might come under pressure and continue its bearish trend below $14.80. $14.40 is the target level to look.

Today Critical levels to watch:

Support: $14.40

Resistance: $14.80, $15.00, $15.20

Crude oil consolidation inside the triangle

Crude oil has a similar situation to the situation in gold. The price stuck inside triangle consolidation and will wait for a breakout to happen. However, the overall trend of crude oil is bullish on the long-term view and we favor upside breakout. This week, the breakout might happen and traders will prepare to enter positions.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00, $67.20, $70.00