Gold giant flag

Gold prices is in consolidation phase right now and forming a flag pattern. The pattern is bullish, but there is a chance of lower low printed on the chart. Which mean timing the entry when the price turn lower is the key for winning. At the current time, the price got rejected from the trend line and might attempt to move lower again. Shorting near the top could be a choice too but must be done with tight stop order. Overall, we still think the long-term trend is bullish and traders will use pullback as a chance to add long positions.

Today’s critical levels to watch:

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

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

Silver fall below $33.00

The downward movement in silver prices has moderate momentum today. The market seems reacting positively toward the pause on EU tariff by President Trump. Under current situation, a pullback in the precious metal prices might happen for short-term. Traders will continue to use it as a chance to add long positions at a lower level. Silver prices return inside the $31.50 – $33.00 area again for now.

Today’s Critical levels to watch:

Support: $33.00, $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil sideways

Crude oil prices slowly moving lower after the rejection from the $63.69 level. There is no strong indication of bearish or bullish continuation. The price might trade sideways near the current level. If the price trading upward and close above $65.00, then the overall trend might turn bullish. On the lower side, if the price resumes the bearish movement, it will target the previous swing low.

Today’s critical level to watch:

Support: $60.00, $52.4

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