Gold slight bounce before downside?

Gold prices is supported by the $4,000 level for now and might attempt to trade higher. However, we think the price has not completed the bearish leg and might target the green box area after bounce. At the current time, we maintain a bullish outlook and will continue to use each bearish correction as a chance to add long positions. When the price form either lower swing high or lower swing low, we will start to shift to bearish outlook.

Today’s critical levels to watch:

Support: $4,000, $3,835

Resistance: $4,200

Silver target $50.00?

Silver prices show bounce reaction from the green box area and the bounce has upward momentum. It might reach the $50.00 for retest. We think, after the retest, silver prices might resume the downward movement to retest the green box area. Traders who want to enter short positions near $50.00 will place stop order above $52.57 or $54.435.

Today’s critical levels to watch:

Support: $47.07, $44.357

Resistance: $50.00, $55.00

Crude oil supported by $60.00

Crude oil prices rally halted near the $62.00 level and there is no new higher swing high printed yet. The price looks consolidating near the $60.00 level and might attempt to move higher again. As we mentioned, when the price climb above $62.00 and print new higher swing high, it is the time to turn bullish in crude oil.

Today’s critical level to watch:

Support: $60.00, $57.60, $55.00, $54.50, $52.4

Resistance: $65.00, $67.20, $70.00, $77.13