Gold on the verge of a breakout

No more help for the bull as gold closed below Fibonacci 38.2% and ready to challenge recent swing low. If the bear could push the price further lower and close it below the swing low then gold ready for another bearish leg. On the long-term outlook, we might see August’18 low tested. It could happen in December when The Fed rise interest-rate again.

No position suggested yet under the current situation, but short position favored over the long position.

Today critical level to watch:

Support: $1,160, $1,131.18

Resistance: $1,188, $1,200, $1,210, $1,220

Silver closed below $14.40

It is another trial for the bull after silver price closed below $14.40. The bear once again in control and the range shifted to $14.00 – $14.40. Shorting near $14.40 is the best option to take at current time while watching if $14.00 could be broken by the bear.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil bullish pin bar

A bullish pin bar printed on crude oil daily chart after the price tested Fibonacci extension level at $74.04. The bullish reversal also formed a flip level which is a strong level. If the bull could push the price further higher then we might see crude oil hanging near $77.13 or more by the end of the year.

Today critical level to watch:

Support: $74.04, $71.39, $70.00

Resistance:  $74.80, $75.00