Gold initial rejection

The price of gold reached the Fibonacci extension level and produced a bearish candlestick reaction. The bearish candlestick close might translate as supply level clearing, as the movement surpass 2017 high. We might see further upside in the gold price, but it will depend on the price movement in coming days or next week. $1,337 is the support to watch.

Today critical level to watch:

Support: $1,337, $1,325, $1,320, $1,300, $1,280

Resistance: $1,357, $1,360

Silver to settle the week between $17.00 – $17.50

The upward movement of silver limited by $17.50 resistance and closed lower yesterday. The bull currently trying to bring the price higher, but stay below $17.50. Regardless where silver closed, the trend is up, and we should see breakout higher in coming weeks.

Today critical level to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50, $17.73, $18.00, $18.50.

Crude oil continues climb

There is no change to the crude oil outlook despite the bearish close yesterday. The price found support at $65.00 today and currently challenging $65.78 extension level. Traders could continue holding long position and avoid shorting.

Today critical level to watch:

Support: $65.00, $62.80, $62.50, $60.00

Resistance: