Gold stick near $4,000

Gold prices continue to maintain the position near the $4,000 handle. No bearish continuation, but we still expect the price to hit the green box area before continuing the upward movement. When the price resumes the upward movement and close above the current consolidation range, then there won’t be downward movement to test the box area. Traders who want to speculate could use the $4,000 handle to enter long positions.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver bullish attempt

Silver prices mostly sideways and has not moved out of consolidation range yet. We still expect the price to continue the bullish trend to target a new higher swing high. If the price turn lower and reach the green box area, then it is a chance for traders to add more long positions. Under current situation, it might be better to stay sideline until the price make significant movement.

Today’s critical levels to watch:

Support: $47.07, $44.357

Resistance: $50.00, $55.00

Crude oil stay below $60.00

Crude oil prices closed outside the $60.00 – $62.00 range, but no bearish continuation seen yet. The price might continue stick near the $60.00 level and attempt to return above it. If the price resumes the bearish trend, then it will target the $54.50 – $55.00 area. On the upside, when the price could print new higher swing high, then the situation will turn bullish.

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