Gold inside green box area

The bull losing strength as U.S. stock market advances. Traders and investors seems regarding conflict between Israel-Iran only an act to bring the price down. Gold prices might continue under bearish pressure this week, but it might stay inside the green box area. Traders will wait until the bearish pressure receded and enter long positions inside the box area. We still think the price will continue the bullish trend to target a new record high.

Today’s critical levels to watch:

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

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

Silver stay above $35.25

Silver prices slightly lower last week, but maintain its position above the $35.25 level. If the price continues moving lower this week, then traders will observe the reaction near $34.48 – $35.25 area. Breakout and a fake out might be an ideal scenario to happen. As long as the price could maintain the $35.25 level until weekly close, the price could continue the bullish movement to target $38.34 and $40.00.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil waiting confirmation

The bearish pressure on crude oil prices stopped at the $65.00 or the green box area. There is no confirmation yet on the price next direction. It could bounce upward and start a new bullish leg. It also could break out below the box area and resume the bearish trend. Technically, we have a higher swing high in the latest upward movement, which mean the bull still has a chance to bring the price upward.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13