Gold waiting reaction

Gold price has reached the green box area now and will wait for a reaction. If a strong bullish bounce reaction occurs in this area then the bullish trend will be confirmed to continue. Meanwhile, a further decline below this area could be a bearish sign in the medium-long term. In the long term, as long as prices continue to form higher swing high and swing low points, the trend will continue to be bullish.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance: $2,400

Silver more bearish correction

Silver price is currently in a bearish correction phase and has a target of $29.00. The correction that occurs is still normal and traders will take advantage of the decline that occurs as an opportunity to add long positions near the support point. The next long-term upside target above $31.50 is the $35.25 point. Like the price of gold, as long as the price continues to form higher swing highs and swing lows, the trend will still be bullish.

Today’s Critical levels to watch:

Support: $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50

Crude oil bullish reaction

After continuing to be under bearish pressure, crude oil prices finally formed a bullish close yesterday near $77.13. This could be an indication of a bullish reversal in direction in the short term. The movement range for crude oil prices is still in the $77.13 – $80.00 area. Traders can use the $77.13 point as a place to enter long positions now in the hope that the $80.00 point is broken and the bullish trend continues.

Today’s critical level to watch:

Support: $77.13

Resistance: $80.00, $83.85, $85.00, $90.00