Gold continue upward

As we mentioned before, gold prices has completed the target, and now it could continue the bullish movement or start bearish correction anytime. Traders who still has long positions since previous swing low could continue to hold the positions and target round number such as $3,900, $4,000. Waiting for major bearish correction and bottoming of the price will be the best choice traders could take for now.

Today’s critical levels to watch:

Support: $3,650, $3,500, $3,400

Resistance: $3,835

Silver new higher high

Silver prices might come under bearish pressure, but it continues to print new higher high which mean the bull still in control. No major change to the price direction. Traders will adopt the same strategy in gold prices. Until then, it is better to stay sideline or take a short-term for traders who have no positions.

Today’s critical levels to watch:

Support: $44.357, $41.632, $40.00

Resistance: $47.07

Crude oil to target $60.00

The bearish breakout below multiple lows happen, and crude oil prices move lower with strong momentum. It is not far from the $60.00 level now. Breakout below the level will open the path toward $57.60 and $54.50 – $55.00 area. As the price printed new lower swing low without new higher swing high, the bearish trend still intact.

Today’s critical level to watch:

Support: $60.00, $52.4

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