Gold bearish continuation

Gold prices losing the bullish pressure and looks to start moving lower again below the $4,000 handle. We expect gold prices to continue the bearish correction toward the green box area or around $3,720 – $3,850. When the price manages to reach the area and produce bullish reactions, traders could start scaling in long positions. The key is waiting for the formation of swing low before jump in long positions.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver to target box area

Silver prices make a similar move as gold prices, where it resumes the bearish movement. On the lower side, we expect the price to target the green box area, where a bullish reversal might happen. When the price bottoming out and there is strong bullish reactions, traders could start entering long positions. On the lower side, $40.00 might be the major level to watch as bullish trend invalidation.

Today’s critical levels to watch:

Support: $47.07, $44.357

Resistance: $50.00, $55.00

Crude oil continue ranging

Crude oil prices is trading between $60.00 – $62.00 and traders will wait for breakout. A close above $62.00 will confirm that the bearish trend has ended. Meanwhile, if the price fall below $60.00 with strong momentum, then the bearish trend might continue. On the lower side, $54.50 – $55.00 will continue to stay as bearish target to watch.

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