Gold bullish continuation

The bullish trend in gold prices has not showing sign of weakness. Gold prices will continue moving upward under current situation, especially when FOMC meeting looming. Uncertainties also drive the price higher, especially when President Trump throwing tariff threat against China. As we mentioned before, traders who has long positions will continue trail with stop order below the latest candlestick low, or below latest swing low.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance:

Silver sharply higher above $50.00

The pause near $50.00 only lasted for two days, as silver prices continue the bullish move. The price now could continue the upward movement and traders will wait for bearish correction to add long positions. All target has been reached which mean traders will trail the upward movement and place a stop below latest swing low or latest candlestick low.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance:

Crude oil retest $60.00

Crude oil price’s bearish trend continue and now there is chance of downward movement to target $57.60 and $54.50 – $55.00 area. On the upside, a close above latest swing low $62.86 will cancel the bearish outlook. As the trend is bearish, it is better to keep shorting when the price reach resistance level.

Today’s critical level to watch:

Support: $60.00, $52.4

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