Gold continue upward

Gold prices stalled near the 127.2% Fibonacci extension, but it looks like building more bullish pressure. If there is no change to the situation, then we expect gold prices to reach 161.8% Fibonacci extension level at $3,835. On the lower side, when there is bearish correction toward $3,500 then traders will wait for bullish reaction to enter long positions.

Today’s critical levels to watch:

Support: $3,500, $3,400

Resistance: $3,650, $3,835

Silver bullish continuation

Silver prices on the path upward to target the 161.8% Fibonacci extension level at $44.357. As we mentioned before, the trend is bullish, and the price could continue upward with or without bearish correction. Traders who has no position will wait for bearish correction to either $41.632 or $40.00.

Today’s critical levels to watch:

Support: $41.632, $40.00, $38.80, $35.25

Resistance: $44.357

Crude oil bottoming

Crude oil prices might look bearish but the bear seems having hard time to continue the bearish movement. If there is no bearish push toward $60.00 this week, then a bullish reversal might happen. On the upside, the $67.20 might be the key level for bullish reversal.

Today’s critical level to watch:

Support: $60.00, $52.4

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