Gold triangle consolidation

Gold prices sit near the top of the triangle pattern and will wait for reactions. A breakout might not happen this week as U.S. market is in Thanksgiving holiday. Traders might want to continue to hold long positions while monitoring the reactions. When the price breakout and close above the triangle pattern, the bullish trend will continue. We think the bull has a high chance to breakout as next week is the end of the Fed QT program.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver hanging near high

Silver prices advanced higher with strong bullish momentum and getting near the previous swing high. A breakout and close above the swing high will confirm the continuation of bullish trend. Meanwhile, if the price gets rejected, then we will see consolidation inside a triangle pattern.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil moving higher

Crude oil prices once again bounced from the $57.60 level and looks will attempt to move upward and test $60.00. The price is consolidating inside the $57.60 – $60.00 area, and traders will wait for breakout confirmation. Overall, we still expect the price to continue lower and test the $54.50 – $55.00 area.

Today’s critical level to watch:

Support: $57.60, $55.00, $54.50, $52.4

Resistance: $60.00, $65.00, $67.20, $70.00, $77.13