Gold completed target

Gold prices continue the bullish trend after consolidation, with the green box area as support. The price now has reached the 127.2% Fibonacci extension level where it might experience rejection. However, there is chance of bullish continuation to target the 161.8% extension level. Under the current situation, it might be better to wait for pullback in the price for a chance to enter long positions. Otherwise, look for short positions when the strength of bullish move waning.

Note: No bearish sign yet for now and the bullish movement has strong momentum

Today’s critical levels to watch:

Support: $3,350, $3,250, $3,200, $3,150

Resistance: $3,400, $3,500

Silver reached 127.2% extension level

Silver prices continue upward and has completed the 127.2% Fibonacci extension target. The price might attempt to extend the upward movement to target the 161.8% extension level next. If a bearish correction toward $40.00 happen, traders could use it as a chance to add long positions near the level.

Today’s critical levels to watch:

Support: $35.25

Resistance: $38.80, $40.00

Crude oil to target $60.00

Crude oil prices descending again after rejection from the green box area. There is no bullish reversal and the price printing new lower low which mean the bearish trend could continue. If there is no change to the situation, then the price could target the $60.00 and $57.60 level.

Today’s critical level to watch:

Support: $60.00, $52.4

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