Gold down to retest $4,000?

Gold price stalled near the $4,200 level and looks under pressure now. It might move lower to retest the $4,000 level again. Traders could use the chance to add long positions near the level when there are bullish reactions. Under the current situation, holding long positions with stop below the latest swing low might be the better idea to take. We are open for the idea of correction toward the green box area too, but it might not happen.

At the start of December, the Fed will end tightening and possibly lower interest-rate, which will become a catalyst for upward movement in gold prices.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver bounced from $50.00

Silver prices retested the $50.00 handle and show bullish reaction. It is currently moving upward and try to recover from the initial selling. There is a chance the price will continue trading near the $50.00 level while attempting to move upward and print a new higher swing high. In the long-term, we still see the price resume the bullish trend and target new higher swing high.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil retesting $60.00

Crude oil prices make a bullish attempt today and trading near the $60.00 level. If the price close above $60.00 then we might see it range between $60.00 – $62.00 again with bullish bias. On the lower side, if the price resumes the bearish trend, then the $54.50 – $55.00 area is the target to watch.

Today’s critical level to watch:

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

Resistance: $60.00, $65.00, $67.20, $70.00, $77.13