Gold forming base

The movement of gold prices looks stabilizing inside the green box area for now. As mentioned before, if the price could stabilize and bounce upward, then the bullish trend will continue. On the upside, the latest swing high of $3,437 will become the resistance level to watch. On the lower side, a breakout below $3,000 will break the trend and might end the bullish trend.

Today’s critical levels to watch:

Support: $3,250, $3,200, $3,150

Resistance: $3,350, $3,400, $3,500

Silver ranging

No breakout and close outside the $31.50 – $33.00 area yet. The price will continue its ranging movement for now, and traders will wait for a close outside the range. On the bigger outlook, we still think the price will resume the bullish trend and target the $35.25 resistance level. However, if the price turned lower again, then $29.00 – $30.00 is the area to watch.

Today’s Critical levels to watch:

Support: $32.50, $31.50, $30.00, $29.00

Resistance: $33.00, $35.25

Crude oil continue ranging movement

The upward movement of crude oil prices paused before it could reach the $65.00 level. It is currently moving sideways and traders will wait for further confirmation. Will the price continue the upward movement and breakout above $65.00 to turn the trend bullish? Alternatively, will it experience another bearish rejection and turn lower to target a new lower swing low.

Today’s critical level to watch:

Support: $60.00, $52.4

Resistance: $65.00, $67.20, $70.00, $77.13