Gold major bearish correction

Gold prices finally started a major bearish correction after the non-stop rally from $3,250 to $4,380. A 30-61.8% Retracement of the latest movement is welcomed, and traders will wait until the bearish movement lost momentum now. When the price stabilize and form bullish reactions, then it is the time for traders to re-enter long positions.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver fall below $50.00

Silver prices made a major bearish correction and fall below the $50.00 level. No major support level present near the current level. If the bearish pressure gaining more momentum, then it will erase all of this month gain. Traders will wait until the bearish pressure subside and the price found support level before entering long positions.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil stick near $57.60

Crude oil prices has potential to bounce upward and retest the $60.00 level before continuing the bearish trend. At the current time, the price sit near the $57.60 support level and might consolidate near it. If the price continues the bearish movement, then the $54.50 – $55.00 area is the target to watch.

Today’s critical level to watch:

Support: $57.60, $55.00, $54.50, $52.4

Resistance: $60.00, $65.00, $67.20, $70.00, $77.13