Gold stay near $4,000

Gold prices looking to stabilize near the $4,000 level and might attempt to bounce upward. Traders will wait until the price lost the bearish momentum and bottoming out before entering long positions. We might have a bounce upward to test $4,129 and another bearish leg to retest $4,000 too. Waiting until the FOMC meeting today might be a better choice to do.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver initial bounce

Silver prices dropped from $54 to $45 in several days and currently there is bounce reactions. However, it is too early to confirm that the price will immediately move upward. Traders will monitor closely the price reactions for now. On the upside, $50.00 is the level to watch. If there is rejection from $50.00 then we might see deeper correction toward $43.15.

Today’s critical levels to watch:

Support: $47.07, $44.357

Resistance: $50.00, $55.00

Crude oil trade near $60.00

Crude oil prices bullish attempt could not print new higher swing high. The price fall toward $60.00 and currently trade near it. If there is bearish continuation from the current level, then traders could expect the price to target $54.50 – $55.00 area. On the other hand, if the price climb above $62.00 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