Gold retracement toward $2,685?

Gold prices made two bearish close and might start a bearish correction toward the $2,685 level. The price bullish trend has not changed as it continues printing new higher swing highs and higher swing lows. Traders will continue to use each bearish correction in the price as a chance to add more long positions. On the upside, the price has the potential to continue the bullish movement toward $2,841.

Today’s critical levels to watch:

Support: $2,685, $2,600

Resistance: $2,750, $2,800, $2,841

Silver testing $31.50 – $32.50 area

Silver prices are under bearish pressure and reached the $31.50 – $32.50 area. The price is set to test the area and look for bounce. If the price could maintain the positions above the area and bounce upward then the bullish trend will continue. On the lower side, if the price formed a new lower swing low then the trend might turn bearish for the short-term.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil return above $70.00

The overall movement of crude oil prices is sideways near the $70.00 for now. The price is trading upward but it might reverse and move lower again. No higher swing high is printed on the chart which means the trend has not turn bullish yet. If the price turn lower and print new lower swing low then the bearish trend will continue.

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85