Gold no bearish confirmation yet

Gold prices extended the bullish movement today and not showing any sign of weakness. The price keep printing new record high each day which mean traders better avoid short positions. Until a bearish close happen, and bearish correction happen toward $2,955 – $3,000 area, it is time to stay sideline. Or, traders could use lower time frame chart and aim for long positions whenever bearish correction happen in the lower time frame.

Today’s critical levels to watch:

Support: $2,981, $2,900, $2,800

Resistance: $3,000

Silver slight bearish correction

There is weakness in silver prices today where the price turn lower. However, the bull immediately makes a recovery and the price looks trading back above previous day’s low. Similar to the gold prices, it is better to stick with long positions until a new lower swing low or lower swing high printed on the chart. On the upside, $35.25 is the bullish target to watch.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil stick near $67.20

Crude oil prices is trading near the $67.20 level, with no major confirmation yet on the next direction. The price might continue trading sideways near the $67.20 level, and traders will wait for more confirmation. On the lower side, $65.00 will become the bearish target to watch. On the upside, $70.00 is the resistance level to watch.

Today’s critical level to watch:

Support: $65.00

Resistance: $67.20, $70.00, $77.13, $80.00, $83.85