Gold major bullish breakout

In the previous day, gold made a major bullish move above the bearish channel and manage to close the day near $1,300 resistance. The breakout is extremely bullish and should change gold medium-long-term trend. The trade war between U.S-China intensify after the implementation of tariff by the U.S. At the current time, traders will watch how China retaliate against the tariff.

Gold expected to continue upside as fear clouded the market.

Today critical levels to watch:

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

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

Silver bounced from the trendline but stay below $14.80

There was a bullish reaction in silver as the price bounced from the trendline in the previous trading day. It closed near its opening level and formed a bullish pin bar pattern. However, the price continues stuck below $14.80 today. Will silver continue its upward movement and close above $14.80 and $15.00 to reverse the current bearish trend?

Today Critical levels to watch:

Support: $14.40

Resistance: $14.80, $15.00, $15.20

Crude oil bearish engulfing pattern, continuation toward $60.00 on the card

A bullish movement is what the bull hope when crude oil bounced from $60.00 support level. There was a bullish pin bar pattern in the previous test. However, no follow-through movement above the candlestick high. In the previous day, the bull attempted to bring crude oil higher but the upward attempt receives selling response. At the end of the day, crude oil closed as a bearish engulfing pattern and confirmed further lower test toward $60.00.

When the price testing $60.00 traders could look for long positions.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00, $67.20, $70.00