Gold trade near upper range

Gold prices have been sideways near the $4,000 level and currently building bullish pressure. It is now trading at $4,129 or the top of the latest range and might break out higher. If gold prices moving upward with strong bullish pressure, then traders could expect it to attempt to print a new higher swing high. On the lower side, $4,000 is the major support level now.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver bounced from $50.00

Silver prices bounced upward with strong bullish reaction again. It might start a new bullish leg to target a new higher swing high. Under current situation, traders will continue to hold long positions and place stop order below $50.00 or latest swing low. No change to the bullish outlook, a close below $45.00 or green box area might become the confirmation that the trend turn bearish.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil bounced from $57.60

The direction of crude oil prices is bearish, but the price looks bounced from $57.60. We maintain the $54.50 – $55.00 target and will place stop order above $62.00. A close above $60.00 might become a consideration for early reversal. When the event happens, we will review crude oil prices outlook again.

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