Gold new record high

Gold prices extended the bullish movement and looks will reach the 161.8% Fibonacci Extension level soon. The price is not stopping moving upward and continue printing new high each day. No change to the strategy, traders will let the price continue moving upward while trailing the two latest candlestick low. Meanwhile, traders who have no position will continue to wait for a bearish correction.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver new higher high

The same as gold prices, silver prices continue climbing and print new higher high. There is no stop to the bullish trend yet, and no significant bearish correction seen. Under current situation, the price could continue the upward movement and traders will wait for a bearish correction to enter long positions. $50.00 is the nearest level to watch as a bearish correction target.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance:

Crude oil more bearish pressure

Crude oil prices fall below $57.60 and looks will continue the bearish movement to target the $54.50 – $55.00 area next. There is no change to the bearish situation of the pair and traders will continue to hold bearish view for now. On the upside, $60.00 is the 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