Gold small gain

The bounce from green box area continue happening in gold prices, but no strong upward momentum yet. Compression is happening right now, where the high gets lower while the low gets higher. A breakout will happen soon, and the next direction will depend on breakout direction. If there is no change to the long-term situation, then gold prices could continue the bullish movement to reach new record high.

Today’s critical levels to watch:

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

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

Silver significantly higher

Silver prices moving upward with moderate bullish momentum and is set to retest the $37.265 level. A breakout above the level will bring the price up to target $38.34 and $40.00. However, if there is no breakout, then silver prices will continue the ranging movement between $35.25 – $37.265. We continue to maintain a bullish outlook and will use each bearish correction in the price near $35.25 as a chance to add long positions.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil retesting green box area

Crude oil prices could not continue the bullish movement toward $70.00 and currently undergoing bearish pressure. It will test the green box area and attempt to breakout lower. If the price could break out and close below the area, then the bearish trend could continue to target $60.00 then $57.60.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13