Gold stay below $4,546
Gold prices make a bullish attempt and limited below the $4,546 level. The price returned to the opening level and might continue trading sideways. If there is bearish continuation, then the daily SMA 200 is the level to watch for test. On the upside, a close above $4,546 could become the confirmation that the bull seizing control. Until then, traders could expect ranging movement continue.
Today’s critical levels to watch:
Support: $4,500, $4,380
Resistance: $4,546, $5,000, $5,200, $5,500
Silver stick near trend line
There is bullish attempt today above the trend line. However, silver prices experience selling pressure and now back near its opening level. We are at the $75.00 or middle of $70.00 – $80.00 range. Traders will wait until the price break out of the range to get confirmation on the next direction. Overall, we still expect more bearish attempt to break $70.00 and continue toward $50.00.
Today’s critical level to watch:
Support: $70.00, $54.00, $50.00
Resistance: $80.00, $83.91, $85.00, $100.00, $120.00
Crude oil stay bullish above $90.00
Crude oil experience bearish pressure today as it retested the $90.00 level. However, the bearish test happens for short while and the price bounced from the $90.00 level. It is trading inside yesterday’s range but with bullish bias. If the price could break out and close above $90.00, then traders could expect upward continuation. On the lower side, $85.00 is the key level to watch.
Today’s critical level to watch:
Support: $90.00, $85.00, $80.00, $77.13
Resistance: $95.00, $100.00, $110.00