Gold bullish reversal
Gold prices bearish extension continue today but the price reversed just before it could reach the $4,000 level. At the current time, the price has erased almost 90% of yesterday drop which suggest possible bullish reversal. If the price continue upward, break and close above $4,250 then there is chance of bullish movement to test broken $4,400 and $4,500 – $4,546 level.
Today’s critical levels to watch:
Support: $4,000
Resistance: $4,250, $4,380, $4,500, $4,546
Silver reaction at lows
Silver prices has clear bearish intention but it looks like the bull is seizing control for now. The price reacted near the two previous swing low or the $64.00 level. It might close the day as bullish engulfing pattern which suggest upward continuation. On the upside, the $70.00 level is the resistance level to watch for bearish reactions.
Today’s critical level to watch:
Support: $64.00, $54.00, $50.00
Resistance: $70.00, $80.00, $83.91, $85.00, $100.00, $120.00
Crude oil under bearish pressure
Crude oil prices back under bearish pressure after Trump announce cancellation of evening strike at Iran. Price tumble below $90.00 and approaching $85.00 level again. We have mark the current movement area inside the green box area. We expect news will continue coming out whenever price reaching the top or bottom of the box area.
Today’s critical level to watch:
Support: $85.00, $80.00, $77.13
Resistance: $90.00, $95.00, $100.00, $110.00