Gold new swing high

Gold prices is on the path upward as it challenges previous swing high and manage to print higher swing high. As the price has broken above the triangle pattern, we expect upward continuation to target a new record high. Traders who has long positions will continue holding with stop order below $4,000.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver almost reached target

Silver price’s bullish train is on the run, and it almost reaches the 127.2% Fibonacci extension level. Traders who hold long positions will place stop order below $50.00 or $52.50. When the price broken above $60.00, silver will target $65.71 and $70.00 next.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil retest $60.00

Crude oil prices tested the $60.00 level and slightly lower after that. It seems the consolidation between $57.60 – $60.00 will continue for now, and traders will wait for further confirmation. We maintain the bearish view and see the price move lower to target $54.50 – $55.00. However, on the upside, a close above $62.00 will cancel the bearish view.

Today’s critical level to watch:

Support: $57.60, $55.00, $54.50, $52.4

Resistance: $60.00, $65.00, $67.20, $70.00, $77.13