Gold resume bullish movement

The bullish trend of gold has not changed yet, it has gained from $2,624 to $3,773 since beginning of year or gained 43%. If the trend continues, we might see the price reach $4,000 this year. After completing the target, 10-30% correction might be a normal event to happen but not mandatory. Under current situation, traders will keep using each bearish correction as chance to add long positions until the bullish structure broken.

Today’s critical levels to watch:

Support: $3,500, $3,400

Resistance: $3,650, $3,835

Silver proceed to 161.8%

The bull has no trouble to reverse the bearish situation and silver prices climb to new high. If there is no change to the situation, then silver prices could reach the 161.8% Fibonacci Extension target at $47.07. Moreover, if there is no major bearish reaction, $50.00 could become the next target to watch.

Today’s critical levels to watch:

Support: $44.357, $41.632, $40.00

Resistance: $47.07

Crude oil bullish reversal

Crude oil prices printed new higher swing high today but show slight rejection from the top of green box area. The price might make another bullish attempt at the top of the box and $67.20 level. If the price could close above the level, then it will confirm a bullish continuation. On the other hand, if the price turn lower from the current level, then there is chance to test the latest swing low.

Today’s critical level to watch:

Support: $60.00, $52.4

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