Gold stabilizing

Gold prices bearish pressure has reached the green box area, and it looks like stabilizing. The bearish pressure slowly receded and we might see sideways movement. If the price could continue to maintain the position and bounce upward with strong momentum, then we could expect continuation of bullish trend. Otherwise, if the price continues the downward movement, then traders will continue to use the green box area as a place to add long positions.

Today’s critical levels to watch:

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

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

Silver to target $35.25

Silver prices undergo a bearish correction where it might move lower to reach the $35.25 support level. The price bullish trend has not changed yet, and traders will observe the pair near the $35.25 level. When there is strong bullish reaction, traders could enter long positions.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil stuck at $70.00

The bullish movement of crude oil prices has reached the $70.00 level. It looks like the price stall and limited below the $70.00 level. We might see the price continue testing the resistance level and looking to breakout higher. However, if the price turn lower sharply, then the bearish trend might continue when the price close below $65.00.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13