Gold turning upward

Gold prices erased the loss again and looks will resume the bullish movement to the 161.8% Fibonacci extension level. The price is in bullish trend, and it could continue the upward movement with or without bearish correction. If there is bearish correction, then traders has chance to add more long positions at lower support level.

Today’s critical levels to watch:

Support: $3,500, $3,400

Resistance: $3,650, $3,835

Silver new higher high

Silver prices resume the bullish movement and print new higher high today. We move the Fibonacci level and now expect the price to target $47.077 level. The price might continue moving upward to target 2011 high too at $49.86. Nothing to stop the bullish situation of the price for now, and traders better keep holding long positions. On the lower side, $41.12 will become the level to watch for inversion.

Today’s critical levels to watch:

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

Resistance: $44.357

Crude oil stuck at $65.00

Crude oil prices building bullish pressure but limited near the $65.00 level. The price might break out, print a new higher swing high and turn the trend bullish. On the upside, $67.20 is the major resistance level to watch. If the price could close above $67.20, it will turn the trend bullish.

Today’s critical level to watch:

Support: $60.00, $52.4

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