Gold daily chart formed “Rising wedge” pattern. The last session seems consolidated near the channel’s support line but bearish in trend inside the channel. As per the technical aspects of the pattern, the market is expected to retest the level and rally on bullish once again. The upside rally could test $1325-1330(29420-29545) levels in upcoming sessions. Alternatively, if market breaks below the support slope line then it might continue in bearish momentum. Major resistance holds at $1330(29545) and previous resistance become support at $1300(28795). RSI reading overbought near 71 points.
Crude Oil Daily chart continues in “Rising wedge” pattern. The trend remains bullish as prices retested a Key support level at $60(3810). As per the technical aspects of the pattern, the retest is expected to push the market furthermore and the upside rally could test $63-64(4000-4064) levels in the upcoming sessions. Once the market reaches the major resistance level holding at $64(4064), then it might have a chance to turn bearish once again. RSI indicates overbought near 71.80 points.