Gold might start bearish correction

Gold prices opened lower today but maintain its positions inside the previous candlestick’s range. There is no major confirmation yet that the price will start a major bearish correction. However, there is potential that the price will move lower to retest a previously broken swing high. If the price turn lower, then traders will monitor the reaction near $3,167.

Today’s critical levels to watch:

Support: $3,150, $3,100,$3,000, $2,981, $2,900, $2,800

Resistance: $3,200, $3,250

Silver extending bullish movement

Silver prices keep moving upward after the bounce from $29.00 – $30.00 area. There is no pause yet and the price looks will target $33.00 then $35.25 next. If the price turn lower, then $31.50 will act as support level. Traders could wait near the level for bullish reactions to enter long positions.

Today’s Critical levels to watch:

Support: $30.00, $29.00

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

Crude oil sideways

Crude oil is supported by the $60.00 and expected to continue the upward movement. However, the price looks pausing right now and limited between $60.00 – $63.00. The next direction might depend on the breakout direction of the price. On the upside, $65.00 is the major resistance level to watch.

Today’s critical level to watch:

Support: $60.00

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