Gold no continuation

Gold prices bounced from the green box area yesterday, but the price could not continue the upward movement and currently under bearish pressure. It seems, people thinking that Trump new tariff and stance toward the tariff deadline only a bluff. Gold downward pressure is the evidence that traders thinking everything still under control. If the tariff situation resolved, then we might see a massive drop in gold prices to test the green box area.

Today’s critical levels to watch:

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

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

Silver sideways

No movement outside the $35.25 – $37.265 area yet. Silver prices turn lower today, but the bearish pressure has receded. The price might continue trading sideways and waiting for confirmation for the next direction. We still think the price will break out higher and continue the upward movement toward $38.80 and $40.00. However, if the price breakout and close below $35.25 then the trend might turn bearish for a while.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil continue upward

The price bounced from the $65.00 level and resume the bullish trend toward $70.00. A test on the resistance level will happen soon and traders will wait for reactions. If the price breakout higher, then it will target $77.13 resistance level. A breakout and close below the green box area will invalidate the bullish trend.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13