Gold pausing

The bearish pressure on gold prices engulfed five daily candles, which suggest potential bearish continuation. However, the price seems stabilizing today and might close near the opening level. Gold prices might attempt to move lower again to retest the green box area. No change to our strategy yet, as long as the price stay above the green box area and revisit it, then traders could use it as chance 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 bullish reversal?

Similar to the gold prices movement, silver prices experienced bearish pressure, but it only covers three prior candlesticks. If the price start moving upward again and erase all the loss, then the bullish movement could continue. On the upside, $40.00 and $41.632 will become the bullish target to watch. On the lower side, as long as there is no close below $35.25, the bullish trend could continue.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil under pressure

Crude oil prices stay near the bottom of green box area even though there is bearish pressure. The price seems consolidating for now, but we think it might eventually continue the downward movement. Despite the situation, it is better to wait for more confirmation now. Whether the price return inside the green box area, or continue lower to target $60.00.

Today’s critical level to watch:

Support: $60.00, $52.4

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