Gold another bearish correction

Gold prices managed to reach the green box area and show slight bounce reaction. Traders who enter long positions will hold the positions and monitor the price movement. A stop order could be placed below $3,120. If the price closed below $3,120 then the bullish trend is ended and the trend might turn bearish for medium-long term. On the upside, we expect the price to continue the bullish trend to target $3,500 then $3,647.

Today’s critical levels to watch:

Support: $3,350, $3,250, $3,200, $3,150

Resistance: $3,400, $3,500

Silver bounced from $35.25

The bearish correction on silver prices reached the $35.25 and immediately show bounce reaction. The price almost returns to the opening level and form a bullish pin bar pattern. If the price immediately continues the bullish trend, then traders could expect touch on $38.34 and $40.00 resistance levels.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil testing $65.00

A sharp bearish reversal happen in crude oil prices after potential cease fire in Middle East being talked. However, up until now, it seems there is no confirmation and both Israel-Iran seems to continue to exchange fire. If the conflict escalate again, then crude oil prices might bounce from $65.00 and breakout above $77.13.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13