Gold retesting $4,000

Gold prices managed to hold off above $4,000 last week. However, the bear is returning and currently the price fall toward the $4,000 level again. The retest is happening, and we might see downward extension toward the 50% – $61.8% Fibonacci Retracement levels. Traders will wait until the bearish pressure subside and the price stabilize before placing any long positions.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver deeper bearish correction

Silver prices continue the bearish correction below the $50.00 level and might reach the 50% – 61.8% Fibonacci Retracement levels. As the bearish movement has strong momentum, it is better to wait until the price stop moving lower and stabilize before entering long positions. Traders will stay at the sideline for now.

Today’s critical levels to watch:

Support: $47.07, $44.357

Resistance: $50.00, $55.00

Crude oil stall at $62.00

The bullish movement of crude oil prices stopped at the $62.00 and there is no new higher swing high printed yet. If the price turn lower with strong bearish momentum, then there is chance of bearish continuation to target new swing low. However, if the price could continue the climb and print a new higher swing high, then the trend might turn bullish.

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