Gold reach another target

The bullish movement of gold prices turned into an almost vertical move without significant pullback. The market are dumping U.S. dollar and China keep buying gold when tariff war intensified. It seems the bullish movement could continue, but traders who want to enter long positions at the current level might be buying the top. Traders who want to enter long positions might want to use the lower time-frame chart and scalp long until a major bearish reversal happen.

At the current time, gold prices has reached the 161.8% Fibonacci extension level, which mean a pullback might happen anytime. But, if situations do not change, the price could ignore everything and continue its bullish advance.

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 stuck near $33.00

Silver prices stay on bullish track, but it is stuck near the $33.00 resistance level. If the price stay longer near $33.00, then a bearish reversal could happen. However, if the price could immediately climb above the level, then it could continue toward $35.25 resistance level.

Today’s Critical levels to watch:

Support: $31.50, $30.00, $29.00

Resistance: $32.50, $33.00, $35.25

Crude oil stalled at $65.00

The $65.00 resistance level has been reached, and crude oil prices stopped its bullish movement. At the current time, the pair is slightly lower and might resume the bearish trend to target $52.50 and $50.00 level. On the upside, a close above $65.00 will open the path toward $70.00 resistance level.

Today’s critical level to watch:

Support: $60.00

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