Gold above $4,000

The situation of gold prices is the same as yesterday. The price climb to new record high and not showing any weakness. Under current situation, the price could continue moving upward and traders will wait for bearish correction. No bearish candlestick close yet, which mean the bullish trend is strong.

Today’s critical levels to watch:

Support: $3,835, $3,650, $3,500, $3,400

Resistance: $4,000

Silver to target $50.00

Silver prices extended the bullish movement and almost reach the $50.00 level. The price bearish pressure only last for short while. Each bearish movement being bought by the bull, which is indication to avoid shorting. $50.00 might be a strong psychological number and a temporary profit taking action could happen. However, on another perspective there are stop order stacked above the level which could trigger a squeeze too.

Today’s critical levels to watch:

Support: $47.07, $44.357

Resistance: $50.00

Crude oil testing breakout level

Crude oil price’s bullish attempt continue, and the price is sitting near the previously broken multiple lows. If there is strong bearish reaction, then traders could expect downward movement to target the $60.00 and $57.60. We maintain bearish outlook for now and see $67.20 as invalidation level for the current bearish outlook.

Today’s critical level to watch:

Support: $60.00, $52.4

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