Gold major bearish correction

The bearish movement of gold prices gaining momentum even though it is at the bottom of green box area. We might see bearish attempt to close below the box area or deeper bearish correction. Nevertheless, traders will wait until the bearish pressure subsided for a chance to enter long positions. As long as there is no new lower swing low printed on the chart, the trend will continue bullish for long-term.

Today’s critical levels to watch:

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

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

Silver moving lower

Silver prices range currently span between $31.50 – $33.00. Today, the price experience bearish pressure and fall from $33.00 level with strong momentum. The price might extend the bearish movement to target the $31.50 level. If the price breakout lower, then $29.00 – $30.00 area is the next target to watch.

Today’s Critical levels to watch:

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

Resistance: $33.00, $35.25

Crude oil getting near $65.00

The bullish movement of crude oil prices experience rejection from the $63.69 level or 50% Fibonacci Retracement level. It might attempt to extend the bullish movement to test the $65.00 level again. As mentioned before, if the price breakout and close above $65.00 then the trend will turn bullish.

Today’s critical level to watch:

Support: $60.00, $52.4

Resistance: $65.00, $67.20, $70.00, $77.13