Gold more ranging

Not much movement seen in gold prices yet. The price continue ranging above the green box area, which mean the market is undecided. There was release of U.S. GDP data which experience contraction and brought gold prices higher. However, the situation now reversed and the price turn lower again. Will the price finally breakdown and started a major bearish correction?

Today’s critical levels to watch:

Support: $3,250, $3,200, $3,150

Resistance: $3,350, $3,400, $3,500

Silver back under $33.00

Silver prices could not maintain the position above the $33.00 level, and now under bearish pressure. It might resume the weakness to target the $31.50 level. Something to note, the price has not risen and print new higher swing high which mean the trend could turn bearish. On the lower side, a new lower swing low will become a major confirmation of bearish trend.

Today’s Critical levels to watch:

Support: $32.50, $31.50, $30.00, $29.00

Resistance: $33.00, $35.25

Crude oil bearish continuation

Crude oil resume the bearish movement and keep falling after the rejection from $65.00 level. The price will target the previous swing low and the $52.40 level. Traders who has short positions from the $65.00 level will keep holding the positions for now.

Today’s critical level to watch:

Support: $60.00, $52.4

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