Gold losing more ground

It seems the bear gaining control on gold as cease-fire between Israel-Iran proceed. The precious metal losing more ground now and entering the green box area. Traders will wait for bullish reactions or until the price stabilize to enter long positions. We maintain bullish outlook and preparing for bounce from the broken trend line or the green box area.

Today’s critical levels to watch:

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

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

Silver mostly sideways

The price experience bearish pressure today but mostly stable as there is no new lower low printed on the chart. Silver prices have bounced from the $35.25 level in the previous bearish attempt, and currently the upward movement is on pause. Nevertheless, the price might form a s-h-s pattern with $35.25 neckline. A breakout and close below $35.25 will have $33.00 as the pattern bearish target.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil stall

Crude oil prices looks stabilizing near the top of green box area or the $65.00 level. No confirmation yet on the price next direction. Will the price bounce upward and continue the bullish movement? Alternatively, will it breakout below the green box area and resume the bearish trend? Under the current situation, we might expect the price to continue trading sideways near the green box area or the $65.00 level.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13