Gold slight bullish move

The bounce from the green box area brought gold prices higher and now is set to target the $3,450 level or the top of the current consolidation range. Gold prices range span between $3,250 – $3,450 for now and breakout & close outside the range will confirm the next direction. Nevertheless, we maintain bullish outlook on the price and expect a new record soon.

Today’s critical levels to watch:

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

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

Silver start moving higher

Silver prices looks gaining and might resume the bullish movement to target $40.00 and higher. We have moved the Fibonacci Retracement level to cover the current high and see $41.632 as new upside target. The area between $35.25 – $35.55 might act as a strong support area if a retest happens.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil more bearish pressure

The upward movement of crude oil prices experience bearish rejection from the $70.00 handle. The price turn lower and with strong bearish pressure toward $65.00. Wil the price breakout below $65.00 and continue the bearish movement? Alternatively, will it continue the ranging movement between $65.00 – $70.00?

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13