Gold bullish continuation

Gold prices have bounced from the Fibonacci Retracement levels with strong bullish momentum. The price will resume the bullish trend to target the $3,250 level. Traders who miss long positions will wait for retracement to support level in lower time frame to enter long positions. However, if the price fall below the $2,960 level then the trend will turn bearish.

Today’s critical levels to watch:

Support: $3,000, $2,981, $2,900, $2,800

Resistance: $3,100, $3,150, $3,200, $3,250

Silver bounced from $29.00 – $30.00 area

The bearish pressure on silver prices reached the $29.00 – $30.00 area, and there is bounce reactions today. The price has left the $29.00 – $30.00 area now and will target the $31.50 resistance level. In the long-term, we still see the price will move toward the $35.25 resistance level.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $33.00, $35.25

Crude oil major bullish reaction

Crude oil pries extended the bearish movement and reached the $55.80 level. It made a major bullish reversal which surpass previous day’s high. If the price maintains the current situation, then we will have a bullish engulfing pattern. When the pattern broken to the upside then the trend will turn bullish with $65.00 and $70.00 as target.

Today’s critical level to watch:

Support: $60.00

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