Gold starting bearish correction?

Yesterday close of gold prices shown a strong bullish close. The price attempting to continue the bullish movement today, but a bearish reversal might happen. Despite the potential of bearish correction, traders will stick with bullish scenario and avoid shorting. The price might retrace 50% of the bullish candlestick range and resume the bullish trend. Under current situation, traders will continue to make use of the bearish correction as a chance to enter long positions to target higher level. On the upside, $3,423 will become the target to watch.

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 rejection from $33.00

The bullish movement of silver prices looks to weaken today. If the price started a bearish correction, then $31.50 is the major support level to watch. When the price test the level and show bounce reactions, traders could enter long positions expecting continuation to target $35.25.

Today’s Critical levels to watch:

Support: $31.50, $30.00, $29.00

Resistance: $32.50, $33.00, $35.25

Crude oil slightly higher

Crude oil prices climb above $63.03 and attempting to leave the consolidation area. On the upside, the price will target $65.00 where it might get rejected and continue the bearish movement. If the price manages to breakout above $65.00 then it will target $70.00 resistance level.

Today’s critical level to watch:

Support: $60.00

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