Gold bullish continuation

Gold prices has resumed the bullish trend after the bounce from $4,000. The price will target a new record high and traders will continue to make use of bearish correction as a chance to add more long positions. The price need to print new higher swing high to ensure that the bullish trend continue. If the price form a lower swing high and lower swing low, then there is chance of bearish reversal.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver sharp gain

Silver prices gaining with strong momentum above the $50.00 level. The price is getting near the previous swing high and might punch through it if a few candles. Under current situation, traders will continue hold long positions and trail the low of 1-2 latest candlestick. On the lower side, $50.00 is the major support level to watch.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil sharp drop

Crude oil prices dropped below $60.00 with strong momentum. The price could not print a higher swing high in the latest upward movement and the current bearish move confirm continuation toward $54.50 – $55.00 area. Traders will stay cautious and place stop order above $62.00.

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