CRUDE OIL TECHNICAL OUTLOOK TODAY :
Crude oil hourly chart has formed “Symmetrical Triangle” pattern. In this pattern price currently hold on cone corner place, which is decision marking for further prices direction one break either side. Crude oil short term support 4520 and key resistance line at 4565. Long term chart showing and short term indication bearish momentum. Anyway market is expected to continue in bullish momentum, once the same breaks below the key support line 4520 then selling pressure extended towards 4500-4475. The upside rally could test all the way through 4580-4650 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again.
GOLD TECHNICAL OUTLOOK TODAY
Gold daily chart has formed “Rising channel” patterns. The last few sessions seems consolidated retesting near a key support holding at 31000 inside the channel. The market is expected to continue in bullish momentum, but before testing all the way through 31100-31000 on support level in the upcoming sessions. Alternatively, if the market breaks below the key support at 31000 then it might turn bearish. The downside rally could test 30900-30750 levels. Key resistance holds at 31500.