Gold maintain bullish pressure

Gold prices has reached the 127.2% Fibonacci Extension target and there was slight bearish rejection. However, the price does not show weakness and might extend the bullish movement to next target. If the price start a bearish correction, then $3,500 could become the potential level to take long positions.

Today’s critical levels to watch:

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

Resistance: $3,400, $3,500

Silver bullish move

Silver prices is consolidating near the 127.2% Fibonacci Extension level and not showing big weakness. The price might continue to stick near the current level and attempt to extend the upward movement to target 161.8% extension level. If the price started a bearish correction, then the $39.50 – $40.00 is the area to watch for bounce reaction.

Today’s critical levels to watch:

Support: $40.00, $38.80, $35.25

Resistance: $41.632, $44.357

Crude oil retesting box area

Crude oil prices turn higher and moving toward the green box area. It might retest the box area and the $65.00 level. As long as there is no new higher swing high printed on the chart, traders will assume the bearish trend will continue. A close above $67.20 is the major confirmation that the bearish trend has finished.

Today’s critical level to watch:

Support: $60.00, $52.4

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