Gold stay above $4,000

The bearish correction in gold prices found support near the $4,000 level. There is bullish attempt today, but the price has not surpassed the previous day’s high. We could say the price is trading inside the previous day’s range and might consolidate for a little while. Ideally, we expect deeper bearish correction to test the $4,000 level. When the price tested several times and manage to hold out, then we have valid floor for next upward movement.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver retesting $50.00?

Silver prices fell below $50.00 or back below 2011 high. The price is looking to stabilize and make bullish attempt to retest $50.00. If the price could stabilize and form strong bullish confirmation, then we will see the price reclaim $50.00 soon. $59.40 – $60.00 could become the next target to watch.

Today’s critical levels to watch:

Support: $50.00, $47.07, $44.357

Resistance: $55.00

Crude oil return to bullish trend?

Crude oil prices sharply higher after President Trump looking to sanction Russia, two largest crude producers. Disruption in oil supply causing the current upward movement in crude oil prices. As we mentioned, when the prices could print new higher swing high, then the trend will reverse. No new higher swing high printed yet, which mean there is chance of bearish reversal, especially when the sanction lifted.

Traders will wait for confirmation for now to plan 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