Gold bounce from box area

The bullish bounce from the green box area is widely expected, and now gold has left the area. It seems the bullish movement could continue upward and target a new swing high. As long as the candlestick continue printing bullish close in the next few days, traders could continue to hold long positions. Meanwhile, if a major bearish reversal happen and erase all the gain, then we might see a dip to target the bottom of green box area.

Today’s critical levels to watch:

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

Resistance: $3,350, $3,400, $3,500

Silver ready for bullish continuation

Silver prices made a bullish close yesterday and there is bullish continuation today. The price is currently climbing and will test the previous week’s high. If the price could immediately break out with strong momentum, then it will target the $38.34 and $40.00 resistance level. Meanwhile, if there is no breakout, then the price will consolidate with $35.25 as support level.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil stick near $65.00

No change to the crude oil price situation, which trading near $65.00 level. The price stick near the level and not showing major reactions yet. If the price could bounce upward with strong bullish momentum, then the bullish trend will continue with $77.13 as resistance level. On the other hand, if the price pushed lower below $65.00 with strong bearish momentum, then it could target $60.00 then $54.50 – $55.00 area.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13