Gold sharp bounce

Gold prices started the week with bearish pressure and manage to reach the green box area. Traders who enter long positions near the box area could hold the positions in expectation of further upside before the tariff announcement by Trump. Today, the president announces new tariff on Japan also South Korea which tank the market. If there is no delay on tariff deadline (Wednesday) then gold prices could soar to target record high.

At the current time, the market situation might depend on the tariff news, traders might want to stay cautious and trade with less risk / leverage.

Today’s critical levels to watch:

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

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

Silver not leaving the range

Silver price’s movement is similar to the gold movement today. It recovered almost all the losses and might extend the bullish movement until Wednesday. However, no breakout from the consolidation range yet, which mean, the consolidation could continue inside $35.25 – $37.265. Nevertheless, traders will continue to hold long positions for now with stop[ order below $35.25. Or below $33.94 to avoid stop hunt.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil another bullish reaction

The prices of crude oil has left the green box area and made retest. Today, the price launched upward and might continue the bullish movement to retest $70.00. On the upside, the price is expected to return to $77.13 level. If the resistance level broken, then crude oil prices will continue to climb to target $83.69 – $85.00.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13