Gold continues the bullish streak

The bullish movement of gold prices after the bounce from $2,530 – $2,550 area continues today. The price has climbed above $2,685 now and will attempt to extend the bullish movement toward $2,841 and higher. As mentioned before, when the price start a bearish correction, traders could use it as a chance to add more long positions near support levels. Under the current situation, the price needs to print a new higher swing high to avoid a bearish reversal.

Today’s critical levels to watch:

Support: $2,600, $2,550, $2,530

Resistance: $2,685, $2,750, $2,800, $2,841

Silver bullish attempt

The bearish pressure on silver prices has subsided and the price looks to climb to test the $31.50 level. If the price could breakout with strong bullish momentum then the bullish trend could immediately continue. Meanwhile, the price could also consolidate between $30.00 – $31.50 for now. Traders will assume that the bullish trend will continue as the bullish structure has not changed yet.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil breakout above the trendline

Crude oil prices building bullish pressure above the $70.00 handle and the trendline. It is an initial bullish indication and the price need to print new higher swing high to confirm the bullish reversal. If the price could not print a new higher swing high and return below $70.00 again then we might see another bearish attempt to print a new lower swing low.

Today’s critical level to watch:

Support: $67.20, $65.00

Resistance: $70.00, $77.13, $80.00, $83.85