Gold daily record high

Gold prices once again completed the 161.8% Fibonacci Extension target. It seems the price could continue climbing under current high uncertain situation. Staying long is the key for the current situation. Traders who has no position will continue to stay sideline as a sharp reversal could happen anytime in the price. When there is an impulsive candle formed, it might be the end of the current bullish movement.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver slightly bearish

Silver prices and gold prices moving on tandem higher and there is no sign of stopping yet. The price might pause but the direction still to the upside. When there is a major bearish correction, then it is a chance for traders to add long positions. On the upside, traders will watch round number level such as $55.00, $60.00.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil fall below $57.60

The direction of crude oil is bearish, and the price currently fall below $57.60. No bullish reversal sign as the price will target $54.50 – $55.00 area next. Traders could wait near the area for bullish reactions. On the upside, the $60.00 level is the resistance level to watch. As the trend is bearish, traders better wait for pullback to enter short positions.

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