Gold major bullish reversal

The price pushed lower today and entered the green box area. However, the bull immediately reverses the price direction and currently gold prices is trading above the opening level. If there is bullish continuation in the upcoming days and a breakout above the trend line happen, then it will confirm bullish flag breakout. On the upside, gold prices could target a new higher swing high. However, if false breakout happen, then the price will start moving lower again to target the bottom trend line.

Today’s critical levels to watch:

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

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

Silver supported by $33.00

Silver prices show bullish reaction near the $33.00 level, but no bullish continuation yet. It only shows that the price continue to be supported by the level. Silver prices might continue consolidating near the $33.00 level until it break out higher. On the upside, $35.25 is the target to watch. On the lower side, if bearish breakout happen with strong momentum, then the price will target $31.50.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil bearish reaction

We could say, the movement of crude oil prices is sideways without new higher high and lower low. It is not far from $60.00 and might continue consolidating above the level. On the upside, a breakout above $65.00 will confirm a bullish continuation. On the lower side, a new lower low will confirm bearish continuation to target $54.50 – $55.00 area.

Today’s critical level to watch:

Support: $60.00, $52.4

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