Gold slight bearish pressure

After the bearish reaction in gold prices, there is bearish follow-through but without strong pressure. Gold prices might stall near the 127.2% Fibonacci Extension level for now. If the price corrected lower, then the $3,500 level is the major support level to watch. We maintain bullish outlook and see the price reaching 161.8% Fibonacci Extension before the end of the year.

Today’s critical levels to watch:

Support: $3,500, $3,400

Resistance: $3,650, $3,835

Silver defending breakout point

Silver prices might be lower, but the price looks stabilizing near the breakout point of $41.632. The best scenario is bearish correction toward $39.50 – $40.00 area. However, the price could also continue the upward movement immediately from the current level. Traders will maintain bullish outlook on the price for now, especially after the Fed show dovish outlook.

Today’s critical levels to watch:

Support: $41.632, $40.00, $38.80, $35.25

Resistance: $44.357

Crude oil lower swing high?

The bullish movement of crude oil prices facing the green box wall and looks turning lower. The price could not print new higher swing high which mean the bearish structure still intact. Will the price start moving lower again and target the $60.00 level? Alternatively, will it move upward, close above green box area or the $67.20 level to confirm bullish reversal?

Today’s critical level to watch:

Support: $60.00, $52.4

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