Gold to target top of range

Gold prices has been sideways for few days after the bounce from green box area. It seems the price is pausing before resuming the upward movement to reach the top of current range of $3,250 – $3,450. We expect the price to continue the bullish trend and print new record high after it break out from the range. Traders could continue to use the bottom of range or the green box area as a place to add long positions.

Today’s critical levels to watch:

Support: $3,350, $3,250, $3,200, $3,150

Resistance: $3,400, $3,500

Silver extend bullish movement

Not much resistance in silver prices, it continue the upward movement and has erased the two days massive bearish drop. If there is no major change in the situation, the price could continue the climb toward previous swing high and target $40.00. Traders who enter long positions when bearish correction happen, could place stop order below the latest swing low or below $35.25.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil more bearish pressure

Crude oil prices is on the verge of bearish breakout below the green box area. All of bullish attempt experience bearish rejection. Traders will wait for either bearish breakout below the green box area or fake breakout. If bearish breakout happen, then the price could continue lower to target the $54.50 – $55.00 area.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13