XAU/USD (Gold) weekly time frame chart
On weekly time frame chart, we can see that the price has been forming higher highs and higher lows for several weeks, however, on the last few months it starts to correct its last bullish movement.
At this moment, that on the last 4 weeks the price has gained a strong bullish movement.
Also, we can see on weekly time frame chart that the price has, finally, broken an important resistance level at 1330$ which can indicate a further bullish movement in this asset.
Therefore, we can expect further bullish movement in this asset.
Our bias on gold is - Long
WTI Crude Oil - Weekly time frame chart
Crude Oil has appreciated on the last few weeks as we can see on weekly time frame chart.
On the chart below we can see that the price has confirmed a chart pattern (inverted head and shoulders) which the price has already broken the neckline (blue line) and in this case the chart pattern is confirmed and activated.
Besides that, we have these moving averages (24 and 72) which crossed behind the neckline which confirms the chart pattern as well.
Therefore, we can expect a further bullish movement in medium / long - term in this asset.
XAG/USD (Silver) - Daily time frame chart
Silver has appreciated as the other commodities did.
On daily time frame chart, we can see that the price has broken a downside trend line which can be interesting to follow because the price is now moving close to that trend line.
Therefore, it might be interesting to see how the price will reacts close to the trend line in order to understand which way (Long or short) the price tends to go.
