Gold bearish reversal

The movement of gold prices after the Fed FOMC meeting looks bearish and might trigger a bearish correction. We maintain bullish outlook and see the price continue toward the 161.8% Fibonacci extension. However, if bearish correction happen, then the $3,500 level is the support level to watch for bounce reactions.

Today’s critical levels to watch:

Support: $3,500, $3,400

Resistance: $3,650, $3,835

Silver bearish correction

It seems the upward movement of silver prices experience a bearish reversal after the FOMC meeting. The price fall below the Monday opening level and might extend the downward movement. On the lower side, the $39.49 – $40.00 will become the support area to watch. We still expect the price to continue the bullish movement toward the $44.357 level.

Today’s critical levels to watch:

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

Resistance: $44.357

Crude oil waiting for confirmation

The upward movement of crude oil prices experience bearish pressure before it could reach the $65.00 level. Up until today, the price continues printing lower swing low and lower swing high which mean the trend is bearish. No higher swing high printed on the chart yet which mean traders better stick with bearish outlook. On the upside, a close above $67.20 will become the key event for bullish reversal.

Today’s critical level to watch:

Support: $60.00, $52.4

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