Gold to continue bullish
A bounce from red trendline and $1,220 happened in the previous trading day and gold bull currently pressuring the price to the upside. Despite the bullish attempt this week, the precious metal still trapped inside the previous week range and could not print higher high.
Bull traders need to start moving the price upside and print higher high, otherwise, the bear will return at any time and bring the price lower.
Today critical level to watch:
Support: $1,220, $1,210, $1,200
Resistance: $1,234, $1,240
Silver need more bullish triggers
The price tested $14.40 and bounced from the level in the previous day. It seems the precious metal ready to start a new bullish leg, however, the bull could not close the day at the positive side and presented us with a neutral situation. Currently, there is bullish attempt to move above previous day high. We will see where the price settles at the end of the day and determine if silver could continue higher or not.
Today critical level to watch:
Support: $14.40, $14.00
Resistance: $15.00, $15.60
Crude oil strong bearish pressure
The bull has a tough task to return crude oil into a bullish trend. Crude oil slides deeper than expected below $70.00 and red trendline which could mean the trend has turned bearish. There is still hope for the bull to reduce the bearish pressure by making a daily close above $70.00. Tough it is an extremely hard job for the bull and easier for the bear to extend downward movement toward $67.00 – $67.90.
Today critical level to watch:
Support: $68.00, $67.90, $67.00
Resistance: $70.00, $71.39, $74.04