Gold achieve target

Gold prices continue upward and has completed the 161.8% Fibonacci extension target. The price bullish trend looks strong and might continue upward. However, we suggest traders to trim position at the target and monitoring the situation. We could use the level around $3,600 – $3,620 as invalidation level for the current bullish leg. Traders will continue to use each bearish correction as a chance to add long positions.

Today’s critical levels to watch:

Support: $3,500, $3,400

Resistance: $3,650, $3,835

Silver reach 161.8%

Similar to the gold prices movement, silver prices also completed the 161.8% Fibonacci Extension target. The bullish trend might continue to target the $50.00 level now. On the lower side, $45.00 might become the level where higher swing low printed when a bearish correction happens. Under current situation, it is better to keep holding long positions.

Today’s critical levels to watch:

Support: $44.357, $41.632, $40.00

Resistance: $47.07

Crude oil bearish rejection

Crude oil price’s bullish attempt receive another rejection from the top of green box area. The downward movement has momentum which mean there is chance of new lower swing low printed. In the latest bullish movement, the price manages to print higher swing high but immediately experience bearish rejection. It is a 50:50 situation, if the price could not print lower swing low, then the bull has the upper hand.

Today’s critical level to watch:

Support: $60.00, $52.4

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