Gold waiting for bullish momentum

Gold prices made a strong bullish close yesterday, but no bullish continuation seen yet. If there is no immediate bullish continuation, then the price might range between $4,000 – $4,129. Overall, we expect the price to continue the bullish trend and target a new higher swing high. On the lower side, $4,000 is the strong support level to watch.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver no bullish continuation

Silver prices have bounced from the $50.00 level with strong momentum. However, there is no bullish follow-through yet today. The price might stall and wait for further confirmation. Nevertheless, if the price turn lower again, then the $50.00 level is the support level where traders could add more long positions.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil bearish pressure at $57.60

Crude oil prices is on the path lower to target $54.50 – $55.00 area. The price is currently under bearish pressure at the $57.60 support level. We expect the price to reach $54.50 – $55.00, but a close above $62.00 will change our bearish view. Under current situation, traders will continue to hold short positions with stop above $62.00.

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