Gold price discovery

The bullish target in gold prices has reached, and the price looks continuing upward. Gold prices is in price discovery phase now, it could continue upward or start a bearish correction anytime. On the upside, the $4,000 will become the next psychological level to watch. On the lower side, $3,650 and $3,500 will become the major support level to watch.

Today’s critical levels to watch:

Support: $3,500, $3,400

Resistance: $3,650, $3,835

Silver slight bearish reaction

Silver prices have completed the target and it is trading slightly lower. However, the bearish pressure receded, and the price looks will close the day near the opening level. If there is no major change in the situation, then silver prices might continue upward to target 2011 high. A breakout and continuation above the level might happen without any meaningful bearish correction. If there is bearish correction, then it is a chance to add long positions until the bullish structure broken.

Today’s critical levels to watch:

Support: $44.357, $41.632, $40.00

Resistance: $47.07

Crude oil retesting multiple lows

Crude oil prices rejection from the top of green box area brought the price lower and soon will test the multiple lows. If the price could break out and close below the multiple lows, then the bearish trend could continue toward $60.00. On the upside, the $65.00 level is the major resistance level to watch.

Today’s critical level to watch:

Support: $60.00, $52.4

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