Gold new record high

Gold prices has not stopped its bullish move and reach the 127.2% Fibonacci Extension level we recently add. As the price continue printing new higher high and higher low, the only action to do is stay sideline for now. Traders who has long positions will continue to hold the positions as the bullish trend not showing any sign of reversing.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver new higher high

Silver prices extended the bullish movement but gave up part of the gain. There is no change to the bullish situation as the price continue trading higher. If there is bearish correction, then traders could use it as a chance to add long positions. For now. On the lower side, the $50.00 is the major level to watch.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance:

Crude oil reached $57.60

Crude oil prices completed the first target at $57.60 and might resume the bearish movement to target $54.50 – $55.00 area next. If the price move lower and manage to print new lower swing low, then the trend will continue bearish. Meanwhile, if the pair turn higher and close above $67.20 then the situation could turn bullish.

Today’s critical level to watch:

Support: $60.00, $52.4

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