Gold continue bullish movement

Gold prices print new record high each day, which mean no room for traders to add more long positions yet. Traders will wait for the price to start a bearish correction for a safer or better entries. Last week, black swan event in the global market, not experienced by gold prices. Someday, we might see a major movement such as that which clear positions in gold. So traders who have long positions will continue to trail the lows of new candlestick or two last candle.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver bullish pressure

The bearish close in silver prices could not produce a bearish follow-through. The price move upward instead and almost print new higher high. As gold prices and silver prices continue climbing, there is no reason to turn bearish. Traders better wait for a major bearish correction to enter long positions at a lower level.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance:

Crude oil bearish continuation?

Crude oi prices has reached the $57.60 target and there is slight bullish reactions. However, the upward movement losing momentum and now trading below the opening level. We might see another bearish attempt to target the $54.50 – $55.00 area next. On the upside, $60.00 will become the nearest resistance level to watch.

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