Gold stick near $4,000

Gold prices is trading near the $4,000 level for now and looks attempting to stabilize near the level. We think there will be another bearish attempt toward the green box area before the start of a new bullish leg. For now, it is better to wait for more confirmation before deciding to enter positions.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver target $50.00?

Silver prices keep attempting to extend the bullish movement after the bounce near the green box area. It might attempt to reach $50.00 level for retest. The same as gold prices, we expect bearish rejection from resistance level and downward movement to test the green box area. Traders will wait near the support level for now to enter long positions.

Today’s critical levels to watch:

Support: $47.07, $44.357

Resistance: $50.00, $55.00

Crude oil $60.00 – $62.00 range

Crude oil prices looks consolidating inside the $60.00 – $62.00 area for now and will attempt to breakout higher. If the price could climb and close above $62.00 then the trend might turn bullish. On the other hand, a bearish close below $60.00 might confirm another bearish leg to target $54.50 – $55.00 area.

Today’s critical level to watch:

Support: $60.00, $57.60, $55.00, $54.50, $52.4

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