Gold consolidating

Even though gold prices made a strong bullish close yesterday, no immediate bullish continuation today. Nevertheless, we think the price will continue the upward movement and print a new record high. For now, traders will use each bearish correction in the price as a chance to enter long positions. Stop order level will be placed below the previous swing low around $3,245. Or better, below $3,000.

Today’s critical levels to watch:

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

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

Silver bearish correction

Silver prices slightly lower today and retracing nearly half of the previous day’s bullish movement. However, the bearish pressure has been receded, and the price looks recovering to the opening level. We maintain the bullish outlook and see silver prices touching the $35.25 resistance level soon.

Today’s Critical levels to watch:

Support: $33.00, $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil no bullish continuation

The bullish movement of crude oil prices has not printed new higher high, but no major bearish rejection too. The price might stall near the current level and attempt to breakout higher. If the price could close above $65.00 then there is chance of bullish continuation and trend reversal. On the other hand, if the price turn lower again, then it might target the $54.50 – $55.00 area.

Today’s critical level to watch:

Support: $60.00, $52.4

Resistance: $65.00, $67.20, $70.00, $77.13