Gold touched $5,500

The bullish pressure on gold prices continues today as it hit $5,500 and pullback slightly from it. At the current time, the prices is moving below the opening level but recover slightly from initial bearish pressure. Nothing changed on the bullish situation of the price, but a sudden bearish correction could happen anytime. At the current time, traders will keep using each bearish move as chance to add long positions until the structure broken.

Today’s critical levels to watch:

Support: $5,000, $4,670, $4,500, $4,380

Resistance:

Silver testing $120.00

Silver prices extended the bullish movement and reached the $120.00 level. It shows slight bearish rejection from it, but it looks like the price will close the day near the opening level. Overall, the bullish trend has not shown major weakness, which mean there is chance of bullish continuation to retest $120.00.

Today’s critical levels to watch:

Support: $100.00, $85.00, $83.91, $80.00, $70.00

Resistance: $120.00

Crude oil rally toward $67.20

Crude oil continue the upward movement from the $62.00 level and almost reach the $67.20 level. There is slight pullback, but we could see the strong bullish intention. As we mentioned before, a close above $62.00 is bullish and now, close above $67.20 also $70.00 will further confirm bullish continuation. When a bearish pullback occurs, traders could use the broken level as a place to add long positions.

Today’s critical level to watch:

Support: $60.00, $57.60, $55.00, $54.50, $52.4

Resistance: $62.00, $65.00, $67.20, $70.00, $77.13