Gold bearish pressure

At the start of the week, gold prices dived just before it could reach the top of the current consolidation range. Traders seems anticipating the release of inflation data this week. If the price could reach the green box area, then it is a chance for traders to add long positions. Under the current situation, it might be better to wait and see until the bearish pressure receded to enter long positions.

Today’s critical levels to watch:

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

Resistance: $3,400, $3,500

Silver trading lower

Silver price’s bearish movement erased nearly half of the previous week’s gain. Despite the bearish movement, we still expect the price to continue the upward movement to target $40.00 and $41.632. If the price continues lower again, then $35.25 could become the level to watch for test.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil bearish consecutive close

Crude oil prices could not produce a bullish close as it continue trading lower below the green box area. We have seven consecutive bearish closes which show the bear dominance. A bullish correction could happen or the price trading inside the green box area. Traders who has short positions will place stop order above $70.00 or the latest swing high.

Today’s critical level to watch:

Support: $60.00, $52.4

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