Gold leaving box area

Gold prices resume the bullish trend above the green box (Fibonacci Retracement area). The price is expected to continue the upward movement and print new higher swing high on the chart. However, if the price turned lower again and manage to print lower swing low, then the situation will turn bearish with $3,000 as bearish target.

Today’s critical levels to watch:

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

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

Silver moving above $33.00

Silver prices breakout above the $31.50 – $33.00 area last week. This week, the price is expected to maintain the positions above $33.00 level and resume the bullish trend to target $35.25. If the price turn lower again and retest the $33.00 level, traders will wait for bullish reactions to enter long positions.

Today’s Critical levels to watch:

Support: $33.00, $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil bounced from $60.00

Crude oi prices was under bearish pressure as it could not reach $65.00 resistance level. A new lower swing high printed on the chart, but the price seems supported by the $60.00 level. If the price could break out below $60.00, then traders will expect bearish continuation to target $54.50 – $55.80 area. Traders who want to enter short positions will place a stop order above $65.00.

Today’s critical level to watch:

Support: $60.00, $52.4

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