Gold slight bearish reaction

The direction of gold prices is bullish, and it is expected to continue upward to print a new record high. Initially, the price climb and print new higher high. However, the price takes a bearish turn and currently trading below the opening level. It seems the price will continue the ranging movement for now and waiting for chance to extend the bullish movement. Traders could continue to hold the long positions for now, but expect bearish attempt up to $3,300 if the price manages to move lower.

Today’s critical levels to watch:

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

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

Silver break through target

We have mentioned $35.25 resistance level target since months ago, and finally silver prices reached the level today. It breaks out above the level with strong momentum, which might confirm a bullish continuation. Under current situation, traders could take partial profit and let the rest run. On the upside, 161.8% extension level will become the target to watch. Aside from the level, $40.00 also the target to watch.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil more ranging movement

No change to the crude oil price situation, as it keep testing the resistance level. However, we will take note that, the low getting higher while the high stay the same. It is an indication that the buyer keep buying while seller attempt to hold the price. If the situation continues, then we might see bullish breakout above the level. On the upside, a close above $65.00 will become the major bullish continuation confirmation.

Today’s critical level to watch:

Support: $60.00, $52.4

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